Brite Corp. sponsors a defined-benefit pension plan for its employees. On January 1, 2021, the following balances related to this plan. Plan assets (fair value) Projected benefit obligation $2,200,000 2,400,000 Pension asset/liability 200,000 Cr. Prior service cost OCI - Loss 300,000 260,000 As a result of the operation of the plan during 2021, the actuary provided the following additional data at December 31, 2021. Service cost for 2021 $280,000 Actual return on plan assets in 2021 180,000 Amortization of prior service cost 60,000 Contributions in 2021 460,000 Benefits paid retirees in 2021 320,000 Settlement rate 7% Expected return rate 8% Average remaining service life of active employees 10 years Instructions (a) Compute pension expense for Howard Corp. for the year 2021 by preparing a pension worksheet. (b) Prepare the journal entry for pension expense.