Brief Exercise 20-6

At December 31, 2017, Waterway Corporation had a projected benefit obligation of $539,400, plan assets of $297,100, and prior service cost of $132,700 in accumulated other comprehensive income. Determine the pension asset/liability at December 31, 2017. (Enter liability using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Pension asset/liability at December 31, 2017