E 17-19 Record pension expense, funding, and gains and losses; determine account balances 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 Bence Obligation is in millions Balance January 1, 2021 $ 480 Service cost 82 Interest cost discount rate 5% 24 Gain due to changes in actuall assumptions in 2021 (10) Pension benefits paid 1403 Balance December 31, 2021 $534 Plan Assets 15 in millions Balance January 1, 2021 $ 500 Actual roturn on plan assets 40 (Expected return on plan assets. $45) Cash contributions 70 Pension benefits paid (40) Balance December 31, 2021 $ 570 January 1, 2021. balances sin millions) Pension asset $20 Prior service cost-AOCI (amortization $ per year) 48 80 Required: Net gain-AOCI (any amortization over 15 years) 1. to 3. Prepare the 2021 journal entries to record pension expense, to record any 2021 gains and losses and the contribution to plan assets and benefit payments to retirees. 4. Determine the balances at December 31, 2021, in the PBO, plan assets, the net gain-AOCI, and prior service cost-AOCI (Hint: You might find T-accounts useful.] 5. What amount will Beale report in its 2021 balance sheet as a net pension asset or net pension liability for the funded status of the plan