Horizon Inc. has a defined benefit pension plan. The following pension-related data were available for the current calendar year. $249,000 50,000 12,450 (5,900) 29,000) $276,550 DIO Balance, Jan. 1 Service cost Interest () Gain tron changes in actual sumption in 2021 Benefits paid to retirees Balance, Dec. 31 Plan asset Balance, Jan. 1 Actual return (expected return van 623,400) Contributions Benefits paid Balance, Dec. 31 ABO, Dec. 31 January 1, 2021, balances Prior service cost-MOCI (amortization 54,765/yE.) Net gain-C (amortization, if any, over 15 years) $259,000 20,000 44,000 (29,000) $294,000 $254,900 4.765 47,650 There were no other relevant data. Required: 1. Calculate the 2021 pension expense. 2. Prepare the 2021 journal entries to record pension expense and funding. 3. Prepare any Journal entries to record any 2021 gains or losses, Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Calculate the 2021 pension expense. (Amounts to be deducted should be indicated with a minus sign.) Pension Expense