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Data for Prince Harry's Inc.'s defined benefit plan for Year 5 follows: At January 1: Projected benefit obligation (PBO), $120,000 Plan assets at fair value

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Data for Prince Harry's Inc.'s defined benefit plan for Year 5 follows: At January 1: Projected benefit obligation (PBO), $120,000 Plan assets at fair value (Assets). $90,000 Prior service cost (PSC) balance in accumulated other comprehensive income (AOCI), $25,000 For Year 5: . Service cost, $40,000 Discount rate, 5% Expected rate of retum on assets, 6% Amortization of PSC, $2,500 Actual return on assets, $6,000 PBO loss at year-end, $15,000 Funding contribution at year-end, $40,000 Benefits paid, $45,000 Complete the Year 5 pension spreadsheet below using the above information. Use parenthesis for negative amounts within categories, and for losses. Enter and extend your amounts to all appropriate cells. Enter 0 in any cell that does not require another entry. PBO Assets PSC in Gain/loss Pension Pension AOCI in AOCI Expense Liability January 1 amounts Service cost Interest cost Expected return Asset gain/loss PSC amortization PBO loss Funding Benefits paid

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