Citroen Company provides the following information about its defined benefit pension plan for the year 2018. Service cost $80,000 Contribution to the plan 99,000 Prior service cost amortization 11,000 Actual and expected return on plan assets 60,000 Benefits paid 50,000 Plan assets at January 1, 2018 520,000 Projected benefit obligation at January 1, 2018 580,000 Accumulated OCI (PSC) at January 1, 2018 120,000 Interest/discount (settlement) rate 10%

a. Prepare a pension worksheet inserting January 1, 2018, balances, showing December 31, 2018. (Please use the provided spreadsheet)

b. Prepare the journal entry recording pension expense.

CITROEN COMPANY Pension Worksheet --2018 Memo Record General Journal Entries Cash Obligation Plan Assets Items Balance, Jan. 1,2018 Service cost Interest cost Actual return Amortization of PSC Contributions Benefits Journal entry for 2018 Accum OCI, 12/31/17 Balance, Dec. 31, 2018 Expense Cost Liability