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Crawford Company reported the following information related to their defined benefit pension plan for their employees: Projected Benefit Obligation on January 1, 2021 Pension Plan
Crawford Company reported the following information related to their defined benefit pension plan for their employees: Projected Benefit Obligation on January 1, 2021 Pension Plan Assets on January 1, 2021 Service Cost for 2021 Contributions by Crawford during 2021 Interest Cost for 2021 Benefits Paid to retirees during 2021 Actual Return on plan assets during 2021 Prior Service Cost Expected return on plan assets for 2021 $2,126,000 2,904,000 359,250 387,000 148,820 219,060 215,520 None 8% 1. Based upon the above information, what is the amount of net pension expense to be reported on the 2021 income statement for Crawford? Please show and label your work. Based upon the above information, what funded status should be reported on the 2021 balance sheet for Crawford and how much would it be? Please show and label your work. 2
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