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Hicks Cable Company has a defined benefit pension plan. Three alternative possibilities for pension-related data at January 1, 2024, are shown below: ($ Case
Hicks Cable Company has a defined benefit pension plan. Three alternative possibilities for pension-related data at January 1, 2024, are shown below: ($ Case 1 Net loss (gain)-AOCI, January 1 2024 loss (gain) on plan assets $ 320 in thousands) Case 2 $ (330) Case 3 $ 260 (11) (8) 2 2024 loss (gain) on PBO (23) 16 Accumulated benefit obligation, January 1 Projected benefit obligation, January 1 Fair value of plan assets, January 1 Average remaining service period of active employees (years) (2,950) (2,550) (265) (1,450) (3,310) (2,670) (1,700) 2,800 2,700 1,550 12 15 10 Required: 1. For each independent case, calculate any amortization of the net loss or gain that should be included as a component of pension expense for 2024. 2. For each independent case, determine the net loss-AOCI or net gain-AOCI as of January 1, 2025. Complete this question by entering your answers in the tabs below. Required Required 1 2 For each independent case, calculate any amortization of the net loss or gain that should be included as a component of pension expense for 2024. Note: Enter your answer in thousands (i.e., 10,000 should be entered as 10). Net gain or loss Less: Corridor amount Excess, if any Service period (years) Amortization of gain or loss Case 1 $ 320 ($ in thousands) Case 2 $ 330 Case 3 $ 260 $ 320 $ 330 $ 260 0 0 0 < Required 1 Required 2 > Show less
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