Exercise 20-15 (Part Level Submission)

Pronghorn Company provides the following selected information related to its defined benefit pension plan for 2020.

Pension asset/liability (January 1)		$25,900	Cr.
Accumulated benefit obligation (December 31)		398,600
Actual and expected return on plan assets		9,200
Contributions (funding) in 2020		149,400
Fair value of plan assets (December 31)		793,700
Settlement rate		10	%
Projected benefit obligation (January 1)		706,100
Service cost		79,370

b. Indicate the pension-related amounts that would be reported in the companys income statement and balance sheet for 2020. ***I need help with this part

Pronghorn Company Income Statement (Partial) For the Year Ended December 31, 2020 Total Expenses T Pension Expense TT Net Income / (Loss) | Pension Expense 140780 Pronghorn Company Balance Sheet (Partial) December 31, 2020 T Liabilities Pension Liability 16700 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS