C. PUI 202, P20.0 (LO 1. 2. 3. 4. 5) Groupwork (Comprehensive 2-Year Worksheet) Hobbs Co. has the fol- lowing defined benefit pension plan balances on January 1, 2020. Projected benefit obligation Fair value of plan assets $4,600,000 4,600,000 The interest (settlement) rate applicable to the plan is u centrate applicable to the plan is 10%. On January 1, 2021, the company amends its pension agreement so that prior service costs of $600,000 are created. Other data of service costs of $600,000 are created. Other data related to the pension plan are: 2020 2021 Service cost Prior service cost amortization Contributions (funding) to the plan Benefits paid Actual return on plan assets Expected rate of return on assets $150,000 -- 200,000 220,000 252,000 $170,000 90,000 184,658 280,000 350,000 6% 8% Instructions a. Prepare a pension worksheet for the pension plan in 2020. b. Prepare any journal entries related to the pension plan that would be needed at December 31, 2020. c. Prepare a pension worksheet for 2021 and any iournal entries related to the pension plan as of December 31, 2021. d. Indicate the pension-related amounts reported in the 2021 financial statements