Cheyenne Co. has the following defined benefit pension plan balances on January 1, 2020.

Projected benefit obligation		$4,632,000
Fair value of plan assets		4,632,000

The interest (settlement) rate applicable to the plan is 10%. On January 1, 2021, the company amends its pension agreement so that prior service costs of $594,000 are created. Other data related to the pension plan are:

		2020			2021
Service cost		$152,000			$172,000
Prior service cost amortization		0			89,000
Contributions (funding) to the plan		198,000			184,000
Benefits paid		220,000			281,000
Actual return on plan assets		252,000			349,000
Expected rate of return on assets		6	%		8	%

Create the pension worksheet for the pension plan in 2020 and 2021.

Create all journal entries

Create the Income Statement, Comprehensive Income Statement and Balance Sheet for 2020 and 2021