Current Attempt in Progress Crane Corporation ended its previous fiscal year with a defined benefit obligation of $104,795 and plan assets of $106,400. On January 1, 2020, the company amended its one-person defined benefit pension plan, resulting in a revised defined benefit obligation at that date of $118,742. As a result of this past service award, Crane's required contributions into the plan assets increase by $988 each year. Determine the effect that the plan amendment has on Crane's 2020 pension expense reported in net income, assuming the company follows ASPE. Pension expense will and net income will by $ in 2020 under ASPE. e Textbook and Media What if Crane applies IFRS? by $ in 2020 under IFRS. and net income will Pension expense will e Textbook and Media 11:59 AM 7/2/2020 o ER Current Attempt in Progress Crane Corporation ended its previous fiscal year with a defined benefit obligation of $104,795 and plan assets of $106,400. On January 1, 2020, the company amended its one-person defined benefit pension plan, resulting in a revised defined benefit obligation at that date of $118,742. As a result of this past service award, Crane's required contributions into the plan assets increase by $988 each year. Determine the effect that the plan amendment has on Crane's 2020 pension expense reported in net income, assuming the company follows ASPE. Pension expense will and net income will by $ in 2020 under ASPE. e Textbook and Media What if Crane applies IFRS? by $ in 2020 under IFRS. and net income will Pension expense will e Textbook and Media 11:59 AM 7/2/2020 o ER