Coghlan Manufacturing Ltd. has a defined benefit pension plan that covers its production employees. On September 1, 2008, Coghlan initiated this plan and had immediately contributed $11.8 million toward covering the costs of the plan because the plan provided for retroactive benefits. The actuary valued these retroactive benefits at $11.8 million. You have the following information with respect to the plan as at August 31, 2018 (10 years after the plan initiation): (Click the icon to view the plan information.) Information for fiscal year ended August 31, 2019: B (Click the icon to view the information for fiscal year ended August 31, 2019.) Requirements Requirement a. Using the above information, prepare the schedules in the note disclosures reconciling the beginning and ending balances of the pension's assets and liabilities for the 2019 fiscal year. First, complete the pension assets schedule for the 2019 fiscal year. (Enter amounts in dollars, not millions. Use a minus sign or parentheses to enter a decrease and/or a loss.) Info for fiscal year ended August 31, 2019 Pension assets schedule Opening assets, September 1 + Funding (occurs mid-year) - Payments to retirees (paid evenly through year) + Expected return on assets + Unexpected gain (loss) on assets $ 27,100,000 Closing balance 33,400,000 3,100,000 Pension benefit obligation at year-end Market value of plan assets at year-end Current service cost (accrued evenly through year) Contributions to plan assets, made mid-year (February 28, 2019) Benefit payments (paid evenly through year) Expected earnings rate on plan assets and discount rate on obligations 1,100,000 1,100,000 Plan information 4% $ 28,400,000 Print Done Plan assets at market value Accrued benefit obligation Balance sheet defined benefit pension asset 26,200,000 2,200.000 Requirements a. Using the above information, prepare the schedules in the note disclosures reconciling the beginning and ending balances of the pension's assets and liabilities for the 2019 fiscal year. b. Derive the pension expense for the fiscal year ended August 31, 2019. C. Record the journal entries relating to the pension plan for the 2019 fiscal year