Citroen Company provides the following information about its defined benefit pension plan for the year 2018.

Service cost: 81,000

Contribution to the plan: 98,000

Prior service cost amortization: 11,500

Actual and expected return on plan assets: 60,000

Benefits paid:51,000

Plan assets January 1, 2018:620,000

Projected benefit obligation at January 1, 2018: 670,000

Accumulated OCI (PSC) at January 1,2018: 125,000

Interest/discount (settlement) rate: 8%

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 General Journal Entries Memo Record OCI - Prior Pension Asset/ Projected Benefit Cash Service Cost Liability Obligation Plan Assets Annual Pension Expense 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