Carolina Consulting Company has a defined benefit pension plan. The following pension-related data were available for the current calendar year: PBO: Balance, Jan. 1 Service cost Interest cost (5% discount rate) Gain from changes in actuarial assumptions in 2018 Benefits paid to retirees Balance, Dec. 31 $233, 000 34,000 11, 650 (4, 300) (13, 000) $261, 350 Plan assets: Balance, Jan. 1 Actual return (expected return was $21, 800) Contributions Benefits paid Balance, Dec. 31 ABO, Dec. 31 $243,000 20,000 28,000 (13, 000) $278,000 $237, 300 January 1, 2018, balances Prior service cost - AOCI (amortization $5,205/yr.) Net gain - AOCI (amortization, if any, over 15 years) There were no other relevant data. 5, 205 52, 050 Required: 1. Calculate the 2018 pension expense. 2. Prepare the 2018 journal entries to record pension expense and funding. 3. Prepare any journal entries to record any 2018 gains or losses. Required: 1. Calculate the 2018 pension expense. 2. Prepare the 2018 journal entries to record pension expense and funding. 3. Prepare any journal entries to record any 2018 gains or losses. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the 2018 pension expense. (Amounts to be deducted should be indicated with a minus sign.) $ Pension Expense Service cost Interest cost Expected return Amortization of prior service cost Amortization of net gain 34,000 11,650 (21,800) 5,205 (3.470) Pension expense 25,585 Required 1 Required 2 Required 3 Prepare the 2018 journal entries to record pension expense and funding. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the pension expense for the year. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal Required 1 Required 2 Required 3 Prepare the 2018 journal entries to record pension expense and funding. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the entry to note funding for the year. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Record entry Clear entry View general journal Required 1 Required 2 Required 3 Prepare any journal entries to record any 2018 gains or losses. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 > Record the gain or loss on plan assets. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal Required 1 Required 2 Required 3 Prepare any journal entries to record any 2018 gains or losses. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the gain or loss on PBO. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Record entry Clear entry View general journal