Hi there, I have the completed answer here, I just need to know how to explain this problem in writing. If you could please explain how all of this is calculated so I can comprise a paragraph written document? Thank you! Here is the problem and answer below..

Melanie Vail Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2017, the following balances relate to this plan. Plan assets $480,000 Projected benefit obligation 625,000 Accumulated OCI (PSC) 100,000 Dr. Accumulated OCI (Gain/Loss) 85,000 Cr. As a result of the operation of the plan during 2017, the following additional data are provided by the actuary: Service cost for 2017 $90,000 Settlement rate 9% Actual return on plan assets in 2017 57,000 Expected return on plan assets 10% Unexpected loss from change in projected benefit obligation, due to change in actuarial predictions 76,000 Contributions in 2017 99,000 Benefits paid retirees in 2017 85,000 Avg. remaining service life (all employees) 12 years Click the link below to download an Excel workbook containing the spreadsheets you will need for this exercise. Use the spreadsheet Pensions to prepare a pension worksheet. On the pension worksheet, compute pension expense, pension asset/liability, projected benefit obligation, plan assets, prior service cost, and net gain or loss. Prepare the journal entry using the spreadsheet Journal Entries to record pension expense in 2017. Indicate the reporting of the 2017 pension amounts in the income statement and balance sheet using the spreadsheet Pensions. What is the amount of deferred pension gain or loss that the company will carry forward to 2018? Compute the same items as in (#1), assuming that the expected rate of return is 14% and the Accumulated OCI (Gain/Loss) is a Debit balance at January 1, 2017.

Memo Record Projected Benefit Obligation General Journal Entries Annual Pension Pension Asset/Liabilit Items Cash Service Cost Gain/Loss Plan assets 100,000 (45,000) 480,000 Balance, Jan. 1,2017 Service cost Interest cost Actual Return Expected Return Amortization of PSC Contributions (90,000) (56,250) 56,250 57,000 (5,000) (52,000) 19,000 (19,000) (99,000) 99,000 (85,000) 85,000 Gain/Loss Liability increase ournal entry for 2017 (76,000) (137,250) (625,000 76,000 14,250 113,250 99,000) 81,000 71,000 551,000 Accumulated OCI, Dec. 31, 2016 Balance, Dec. 31, 2017 113,250 81,000 71,000 59.250 762,250 551,000 Memo Record Projected Benefit Obligation General Journal Entries Annual Pension Pension Asset/Liabilit Items Cash Service Cost Gain/Loss Plan assets 100,000 (45,000) 480,000 Balance, Jan. 1,2017 Service cost Interest cost Actual Return Expected Return Amortization of PSC Contributions (90,000) (56,250) 56,250 57,000 (5,000) (52,000) 19,000 (19,000) (99,000) 99,000 (85,000) 85,000 Gain/Loss Liability increase ournal entry for 2017 (76,000) (137,250) (625,000 76,000 14,250 113,250 99,000) 81,000 71,000 551,000 Accumulated OCI, Dec. 31, 2016 Balance, Dec. 31, 2017 113,250 81,000 71,000 59.250 762,250 551,000