How do I calculate pension liability and health insure liability?

Postretirement Benefits

Peyton Approved has revised its postretirement plan. It will now provide health insurance to retired employees. Management has requested that you report the short- and long-term financial implications of this.

The company is currently employing 60, and actuaries estimate that the company has a pension liability of $107,041.70.

The estimated cost of retired employees health insurance is $43,718.91.

Prepare adjusting entries for the pension liability and the health insurance liability