Exercise 17-16 (Algo) Determine and record pension expense and gains and losses; funding and retiree benefits (LO17-6, 17-7] Actuary and trustee reports indicate the following changes in the PBO and plan assets of Douglas Roberts Industries during 2021: Prior service cost at Jan. 1, 2021, from plan amendment at the beginning of 2018 (amortization: $4 million per year) Net Loss-AOCI at Jan.1, 2021 (previous losses exceeded previous gains) Average remaining service life of the active employee group Actuary's discount rate $ 28 million $170 million 10 years ($ in millions) PBO Beginning of 2021 Service cost $ 700 56 Plan Assets Beginning of 2021 Return on plan assets, 8% (10% expected) $500 40 Interest cost, 7% Loss (gain) on PBO Less: Retiree benefits End of 2021 49 (12) (33) $ 760 Cash contributions Less: Retiree benefits End of 2021 99 (33) $ 606 Required: 1-a. Determine Douglas-Roberts's pension expense for 2021. 1-b, 2. to 4. Prepare the appropriate journal entries to record the pension expense, to record any 2021 gains and losses, to record the cash contribution to plan assets and to record retiree benefits. Complete this question by entering your answers in the tabs below. Req 1A Req 1B and 2 to 4 Determine Douglas-Roberts's pension expense for 2021. (Amounts to be deducted Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Pension Expense Service cost Interest cost Expected return on the plan assets Amortization of prior service cost Amortization of net loss Pension expense $ 0 required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) View transaction list View journal entry worksheet No Event General Journal Debit Credit 1 1 Pension expense 79 Plan assets 70 14 Amortization of net loss - OCI Amortization of prior service cost - OCI PBO 4 131 2 2 Loss - OCI 14 Plan assets 14 3 3 PBO 18 Gain - OCI 18 4 4 Plan assets 105 Cash 105 5 5 PBO 39 Plan assets 39 Req 1A Req 13 and 2 to 4