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Crane Company sponsors a defined benefit plan for its 100 employees. On January 1, 2020, the company's actuary provided the following information $151,900 198,500 Accumulated
Crane Company sponsors a defined benefit plan for its 100 employees. On January 1, 2020, the company's actuary provided the following information $151,900 198,500 Accumulated other comprehensive loss (PSC) Pension plan assets (fair value and market-related asset value) Accumulated benefit obligation Projected benefit obligation 256,900 379,200 The average remaining service period for the participating employees is 10 years. All employees are expected to receive benefits under the plan. On December 31, 2020, the actuary calculated that the present value of future benefits earned for employee services rendered in the current year amounted to $47,200; the projected benefit obligation was $499,500; fair value of pension assets was $271,500; the accumulated benefit obligation amounted to $362,700. The expected return on plan assets and the discount rate on the projected benefit obligation were both 10%. The actual return on plan assets is $10,000. The company's current year's contribution to the pension plan amounted to $63,000. No benefits were paid during the year. Indicate the pension amounts reported in the financial statement as of December 31, 2020. (Enter negative amounts using either a negative sign preceding the number eg. -15,630 or parentheses eg. (15,630).) Crane Company Income Statement (Partial) For the Year Ended December 31, 2020 Net Income /(Loss) Pension Expense $
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