Exercise 17-20 Pension spreadsheet (L017-8] Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2018 (the end of Beale's fiscal year), the following pension-related data were available: ($ in millions) $ 420 Projected Benefit Obligation Balance, January 1, 2018 Service cost Interest cost, discount rate, 5% Gain due to changes in actuarial assumptions in 2018 Pension benefits paid Balance, December 31, 2018 cos (5 in millions) $400 Plan Assets Balance, January 1, 2018 Actual return on plan assets (Expected return on plan assets, $36) Cash contributions Pension benefits paid Balance, December 31, 2018 January 1, 2018, balances Pension set Prior service cost-AOCT (amortization 55 per year) Net gain AOCI any amortization over 10 years) Pension asset Prior service cost-AOCI (amortization $5 per year) Net gain-AOCI (any amortization over 10 years) 8 Required: Prepare a pension spreadsheet to show the relationship among the PBO, plan assets, prior service cost, the net gain, pension expense, and the net pension asset. (Enter credit amounts with a minus sign and debit amounts with a positive sign.) Prior Plan Assets PBO Net Pension (Liability) Asset Service Net Pension Cost-AOCI Gain-AOCI Expense Cash is in millions) Balance, Jan 1, 2018 Service cost Interest cost 5% Expected return on assets Adjust for: Loss on assets Amortization of Prior service cost Net gain Gain on PBO Cash funding Retiree benefts Balance Dec 31, 2018 Exercise 17-20 Pension spreadsheet (L017-8] Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2018 (the end of Beale's fiscal year), the following pension-related data were available: ($ in millions) $ 420 Projected Benefit Obligation Balance, January 1, 2018 Service cost Interest cost, discount rate, 5% Gain due to changes in actuarial assumptions in 2018 Pension benefits paid Balance, December 31, 2018 cos (5 in millions) $400 Plan Assets Balance, January 1, 2018 Actual return on plan assets (Expected return on plan assets, $36) Cash contributions Pension benefits paid Balance, December 31, 2018 January 1, 2018, balances Pension set Prior service cost-AOCT (amortization 55 per year) Net gain AOCI any amortization over 10 years) Pension asset Prior service cost-AOCI (amortization $5 per year) Net gain-AOCI (any amortization over 10 years) 8 Required: 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 credit amounts with a minus sign and debit amounts with a positive sign.) Prior Plan Assets PBO Net Pension (Liability) Asset Service Net Pension Cost-AOCI Gain-AOCI Expense Cash is in millions) Balance, Jan 1, 2018 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 benefts Balance Dec 31, 2018