Chapter 17 Review: Pension Activity The following summarizes UNL Inc.s pension activity for 2016. Beginning projected benefit obligation 830 Ending projected benefit obligation 990 Beginning plan assets 680 Ending plan assets 775 Beginning Prior service cost-AOCI 20 Ending Prior service cost-AOCI 55 Beginning Net loss-AOCI 93 Ending Net loss-AOCI 112 Pension Expense 95 Service cost 74 Interest cost 83 Expected return on assets 68 Actual return on assets 61 Loss on assets 7 Amortization of prior service cost 5 Amortization of net loss 1 Loss on PBO 13 Prior service cost 40 Contributions 84 Retiree benefits paid 50 Required: 1. Reconcile the beginning balances to the ending balances of a. Projected benefit obligation b. Plan assets c. Prior service cost-AOCI d. Net loss-AOCI 2. Write down the formula for computing pension expense (i.e., list the components of pension expense). 3. Prepare all necessary journal entries to record the 2016 pension activity (hint: 5 entries).