Cullumber Corporation is a private company with a defined benefit pension plan. The following information is available for Cullumber Corporation for 2020: Opening balance, DBO $214,000 Opening balance, plan assets 204,000 Service cost 59,000 Employer contributions paid evenly through 2020 78,500 Applicable interest or discount rate 10 % Actual return on plan assets 25,500 Actuarial loss due to change in actuarial assumptions 14,300 Assuming that Cullumber follows IFRS, determine the 2020 effect of the pension plan on pension expense and the company's shareholders' equity. pension plan results in total pension expense and a related decrease in the net income and retained earnings by $ = Textbook and Media