Employee Benefits ABC Ltd contributes to a defined benefit superannuation plan for its employees. The following information is available for the plan at 30 June 2020. Fair value of plan assets (1 July 2019) $11 700 000 Fair value of plan assets (30 June 2020) $12 900 000 Present value of defined benefit obligation (1 July 2019) $12 000 000 Present value of defined benefit obligation (30 June 2020) $13 080 000 Benefits paid by the fund to members during the year $1 100 000 Contributions paid by ABC Ltd to the fund during the year $1 220 000 Current service cost $1 200 000 Rate of return on plan assets for the period 7.0% Discount rate (1 July 2019) 5.0% Discount rate (30 June 2020) 6.0% REQUIRED: (1) Calculate the actuarial gain or loss of the plan assets for the period ended 30 June 2020. Please specify whether it is a gain or loss. 2) Calculate the actuarial gain or loss of defined benefit obligation for the period ended 30 June 2020. Please specify whether it is a gain or loss. (3) Calculate the defined benefit cost or income recognised in other comprehensive income for the period ended 30 June 2020. Please specify whether it is a cost or income? Employee Benefits ABC Ltd contributes to a defined benefit superannuation plan for its employees. The following information is available for the plan at 30 June 2020. Fair value of plan assets (1 July 2019) $11 700 000 Fair value of plan assets (30 June 2020) $12 900 000 Present value of defined benefit obligation (1 July 2019) $12 000 000 Present value of defined benefit obligation (30 June 2020) $13 080 000 Benefits paid by the fund to members during the year $1 100 000 Contributions paid by ABC Ltd to the fund during the year $1 220 000 Current service cost $1 200 000 Rate of return on plan assets for the period 7.0% Discount rate (1 July 2019) 5.0% Discount rate (30 June 2020) 6.0% REQUIRED: (1) Calculate the actuarial gain or loss of the plan assets for the period ended 30 June 2020. Please specify whether it is a gain or loss. 2) Calculate the actuarial gain or loss of defined benefit obligation for the period ended 30 June 2020. Please specify whether it is a gain or loss. (3) Calculate the defined benefit cost or income recognised in other comprehensive income for the period ended 30 June 2020. Please specify whether it is a cost or income