compute pension expense for crane corp for the year 2021 by preparing a pension worksheet

Crane Corp, sponsors a denned benefit pension plan for its employees. On January 1, 2021, the following balances related to this plan Plan assets fair value) $570.000 Projected benefit obligation 620.000 Pension asset/liability 50,000 CC Prior service cost 77,000 OCI-LOSS 67,000 As a result of the operation of the plan during 2021, the actuary provided the following additional data at December 31, 2021. Service cost for 2021 $72,000 Actual return on plan assets in 2021 40,940 Amortization of prior service cost 16,600 Contributions in 2021 117,000 Benefits paid retirees in 2021 82.000 Settlement rate 6 % Expected return rate 7 % Average remaining service life of active employees 10 years Annual Pension Expense Cash alance, Jan. 1.2021 -ervice cost > Interest cost Actual return