Doints eBook Hint References Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2021 (the end of Beale's fiscal year), the following pension-related data were available: Projected Benefit Obligation Balance, January 1, 2021 Service cost Interest cost, discount rate, 5% Gain due to changes in actuarial assumptions in 2021 Pension benefits paid Balance, December 31, 2021 Plan Assets Balance, January 1, 2021 Actual return on plan assets (Expected return on plan assets, $45) ($ in millions) $500 40 ($ in millions) $480 82 24 (10) (40) $536 Cash contributions Pension benefits paid Balance, December 31, 2021 January 1, 2021, balances: Pension asset Prior service cost-AOCI (amortization $8 per year) Net gain-AOCI (any amortization over 15 years) 70 (40) $570 ($ in millions) $20 48 86 k = nces Prepare a pension spreadsheet to show the relationship among the PBO, plan assets, prior service cost, the net gain, pension expense, and the net pension asset. (Enter your answers in millions. Enter credit amounts with a minus sign and debit amounts with a positive sign.) Prior ($ in millions) PBO Plan Assets Service Cost-AOCI Net Gain-AOCI Pension Expense Cash Net Pension (Liability)/ Asset Balance, Jan. 1, 2021 Service cost Interest cost, 5% Expected return on assets Adjust for Loss on assets Amortization of Prior service cost Net gain Gain on PBO Cash funding Retiree benefits Balance, Dec. 31, 2021 Prev 10 of 10 Next