Crane Corporation initiated a defined benefit pension plan for its 50 employees on January 1, 2020. The insurance company that administers the pension plan provides the following information for the years 2020, 2021, and 2022: Plan assets (fair value) Defined benefit obligation Net actuarial (gain) loss: DBO Remeasurement (gain) loss: fund assets Employer's funding contribution (made at end of year) For Year Ended December 31 2020 2021 2022 $50,000 $85,000 $166,000 64,900 ? 8,900 (24,500) 84,500 ? ? (11,200) 50,000 60,000 95,000 There were no balances as at January 1, 2020, when the plan was initiated, because no credit was given for past service. The rate used to discount the company's pension obligation was 13% in 2020, 11% in 2021, and 8% in 2022. The service cost component of net periodic pension expense amounted to the following: 2020, $56,000; 2021. $85,000; and 2022,5116,000. No benefits were paid in 2020, but $30,000 was paid in 2021, and $32,000 in 2022. (All benefits were paid and all actuarial gains and losses were determined at the end of the year.) The company applies IFRS. Your answer is partially correct Prepare a continuity schedule for the defined benefit obligation over the three year period. (Round answers to dedmal places 8.5.275. Enter negative amounts using either a negative stan preceding the number 3.-45 or parentheses (45). Do not have any answereld blank. Enter for amounts: Crane Corporation Continuity Schedule of Defined Benefit Obligation 2020 2021 0 Defined Benefit Obligation at Beginning of Year 0 Current Service Cost 56000 85000 Interest Cost 7280 9350 (0) (30000) Benefits Pald Out 8900 (24500) Net Actuarial Loss (Gain) 79561 49200 $ Defined Benefit Obligation at End of Year e Textbook and Media Prepare a continuity schedule for the defined benefit obligation over the three-year period. (Round answers to decimal places es 5,275. Enter negative amounts using either a negative sin preceding the numberes.-45 or parentheseses (45). Do not leave any answer field blank. Enter for amounts.) Crane Corporation Continuity Schedule of Defined Benefit Obligation 2020 2021 $ 2022 ion at Beginning of Year $ 0 0 0 56000 85000 116000 7280 9350 9280 (0) (30000) (32000) B900 (24500) 84500 lon at End of Year 79561 $ 49200 186540 Prepare a continuity schedule for the plan assets over the three-year period. (Round answers to decimal places, es 5.275. Enter negative amounts using elther a negative sin preceding the number 08-45 or parentheseses (45). Do not leave any answer field blank Enter for amounts) Crane Corporation Continuity Schedule of Plan Assets 2020 2021 2022 Plan Assets at Beginning of Year $ (0) $ (0) $ Contributions 50000 60000 95000 Actual Return on Assets 0 (30000) (63000) (0) Benefits Pald Out 30000 32000 50000 $ 195000 $ 26000 Plan Assets at End of Year e Textbook and Media Calculate the amount of net periodic pension expense that the company will recognize in each of 2020 2021 and 2022. (Round answers to decimal places, eg. 5,275) $ 56000 Pension expense, 2020 Pension expense, 2021 $ 55000 Pension expense 2022 $ 84000 e Textbook and Media