Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2021 (the end of Beale's fiscal year), the following pension-related data were available:

Projected Benefit Obligation	($ in millions)
Balance, January 1, 2021		$	460
Service cost			48
Interest cost, discount rate, 5%			23
Gain due to changes in actuarial assumptions in 2021			(14	)
Pension benefits paid			(23	)
Balance, December 31, 2021		$	494

Plan Assets	($ in millions)
Balance, January 1, 2021		$	480
Actual return on plan assets			33
(Expected return on plan assets, $38)
Cash contributions			74
Pension benefits paid			(23	)
Balance, December 31, 2021		$	564

January 1, 2021, balances:	($ in millions)
Pension asset	$	20
Prior service costAOCI (amortization $7 per year)		49
Net gainAOCI (any amortization over 10 years)		88

Required: 1. to 3. Prepare the 2021 journal entries to record pension expense, to record any 2021 gains and losses and the contribution to plan assets and benefit payments to retirees. 4. Determine the balances at December 31, 2021, in the PBO, plan assets, the net gainAOCI, and prior service costAOCI [Hint: You might find T-accounts useful.] 5. What amount will Beale report in its 2021 balance sheet as a net pension asset or net pension liability for the funded status of the plan?

Determine the balances at December 31, 2021, in the PBO, plan assets, the net gainAOCI, and prior service costAOCI [Hint: You might find T-accounts useful.]. (Enter your answers in millions. (i.e., 10,000,000 should be entered as 10).)

Balances on Dec. 31, 2021
($ in millions)
PBO	$70selected answer incorrect
Plan assets	$(494)selected answer incorrect
Net gain - AOCI	$564selected answer incorrect
Prior service cost - AOCI	$70selected answer incorrect

What amount will Beale report in its 2021 balance sheet as a net pension asset or net pension liability for the funded status of the plan? (Enter your answers in millions. (i.e., 10,000,000 should be entered as 10).)

Balance Sheet as of 2021
not attempted	not attempted	million