Bonny Corp. has a defined benefit pension plan for its employees who have an average remaining service life of 10 years. The following information is available for 20X1 and 20X2 related to the pension plan: Projected benefit obligation, 1/1 20x2 20X1 ? $750,000 Service cost $ 70,000 60,000 Actual return on plan assets 66,400 72,000 Bonny Corp. contributions for year ended 12/31 74,000 68,000 Benefits paid during year 67,000 60,000 Fair value of plan assets, 1/1 7 600,000 Actuarial (gain) loss on PBO during year (13,000) Expected return on plan assets Discount rate 78 68 4,400 78 68 Bonny Corp. had no beginning balance in its AOCI-net actuarial (gain) loss on January 1, 20X1. The actuarial (gains) losses on PBO arose due to changes in assumptions made by the actuaries regarding salary increases (20X1) and mortality estimates (20X2). Required: 1. Compute Bonny's PBO at December 31, 20X1, and December 31, 20X2. 2. Compute the fair value of plan assets at December 31, 20X1, and December 31, 20X2. 3. Compute the funded status of the plan at December 31, 20X1, and December 31, 20X2. 4. Compute the year-end balance in AOCI-net actuarial loss (gain) for Bonny Corp. for 20X1 and 20X2. 5. Compute OCI for the years ended December 31, 20X1, and December 31, 20X2. (For parts 3, 4, and 5, liabilities and losses should be indicated by a minus sign.) 1. PBO at 12/31 2. Plan assets at 12/31 3. Funded status of plan at 12/31 4. AOCI-net actuarial loss (gain) at 12/31 5. OCI for the year ended 12/31 20X2 20X1