Determine the new gains and/or losses in 2022, and prepare the appropriate journal entry(s) to record them.

1. Journal entry to record losses.

2. Journal entry to record gains.

Required information [The following information applies to the questions displayed below.] Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2021: Prior service cost at Jan. 1, 2021, from plan amendment at the beginning of 2019 (amortization: $5 million per year) Net loss-pensions at Jan.1, 2021 (previous losses exceeded previous gains) Average remaining service life of the active employee group Actuary's discount rate $35 million $50 million 10 years 9% ($ in millions) PBO Plan Assets $150 $200 90 18 Beginning of 2021 Service cost Interest cost, 9% Loss (gain) on PBO Less: Retiree benefits End of 2021 Beginning of 2021 Return on plan assets, 8.0% (10% expected) Cash contributions Less: Retiree benefits End of 2021 44 (6) (6) $300 $200 Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Cable during 2022: ($ in millions) Plan Assets $200 PBO $300 41 27 4 (19) $353 Beginning of 2022 Service cost Interest cost, 9% Loss (gain) on PBO Less: Retiree benefits End of 2022 30 Beginning of 2022 Return on plan assets, 15% (10% expected) Cash contributions Less: Retiree benefits End of 2022 (19) $244