Brief Exercise 19-8 Cullumber Corporation provides the following information about its defined benefit pension plan (in hundreds of thousands of dollars) for 2017: Actual return on plan assets Contributions from employer Benefits paid to retirees Actuarial loss due to change in actuarial assumptions $9 21 10 15 Current service cost Opening balance, DBO Opening balance, plan assets $23 100 100 At the end of the year, Cullumber revised the terms of its pension plan, which resulted in past service costs of $35. Assuming that Cul umber applies an 10% interest cost the effect of the pension plan on the company's shareholders' equity. (Enter answer in hundreds of and follows IFRS, determine the company's 2017 pension expense and dollars.) Pension expense to be reported Remeasurement gain or loss (OCI) Effect on company's shareholders' equity Practice Question 4 Your answer is incorrect. Try again In a defined-contribution plan, a formula is used that O defines the benefits that the employee will receive at the time of retirement. ensures that pension expense and the cash funding amount will be different. requires an employer to conthoute a certain sum each period based on the formula. O ensures that employers are at risk to make sure funds are available at retirement