Funland Corporation is a publicly owned company that follows IFRS. On December 31, 2019, Funland's financial records indicated the following information related to the company's defined benefit pension plan: Defined Benefit Obligation Pension Plan Assets $7,605,800 $7,267,500 On January 1, 2020, Funland acquired the operations of AMX Ltd. As one of the conditions of the purchase, Funland agreed that AMX's employees would be included in Funland's defined benefit pension plan and would be granted credit for the past service of AMX's employees. The actuary estimated the value of the prior service amount granted on January 1, 2020, to be $325,100. Funland's actuary provided the following information on December 31, 2020: Current year service cost $387,000 Employer contributions for the year $434,000 Benefits paid to retirees $175,500 Actuarial increase in pension obligations $123,500 6% 5% 6% Expected return on assets Actual return on assets Discount rate Required: 1) Prepare a pension worksheet for Sunland Corporation for the year ending December 31, 2020. 2) Prepare the journal entry to record the pension expense for 2020. 3) What is Sunland's funded status at December 31, 2020?