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Crane Company sponsors a defined benefit pension plan. The corporations actuary provides the following information about the plan. January 1, 2020 December 31, 2020 Vested

Crane Company sponsors a defined benefit pension plan. The corporations actuary provides the following information about the plan.

January 1, 2020 December 31, 2020
Vested benefit obligation $1,610 $1,910
Accumulated benefit obligation 1,910 2,590
Projected benefit obligation 2,400 3,120
Plan assets (fair value) 1,680 2,430
Settlement rate and expected rate of return 10 %
Pension asset/liability 720 ?
Service cost for the year 2020 400
Contributions (funding in 2020) 660
Benefits paid in 202- 180

(a) Compute the actual return on the plan assets in 2020.

Actual return on the plan assets

$

(b) Compute the amount of the other comprehensive income (G/L) as of December 31, 2020. (Assume the January 1, 2020, balance was zero.) (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Net pension liability gains and losses

$

(c) Compute the amount of net gain or loss amortization for 2020 (corridor approach).

Net gain or loss amortization

$

(d) Compute pension expense for 2020.

Pension expense

$

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