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Brief Exercise 19-9 Pharoah Corporation is a private company with a defined benefit pension plan. The following information is available for Pharoah Corporation for 2017:
Brief Exercise 19-9 Pharoah Corporation is a private company with a defined benefit pension plan. The following information is available for Pharoah Corporation for 2017: Opening balance, DBO Opening balance, plan assets Service cost Employer contributions paid evenly through 2017 Applicable interest or discount rate Actual return on plan assets Actuarial loss due to change in actuarial assumptions $228,000 217,000 63,000 83,500 10% 27,000 15,200 Assuming that Pharoah follows IFRS, determine the 2017 effect of the pension plan on pension expense and the company's shareholders' equity The pension plan results in total pension expense and a related in the net income and retained earnings by $ and a remeasurement loss (OCI) and in accumulated other comprehensive income of $ , for a total reduction in shareholders' equity of $
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