I need a lot of help with the problems in the attached document. I have no idea what I am doing, I think the answers I keep getting are way wrong. A example blank pension worksheet is also attached. Thanks!

Company Pension Worksheet-20X1, 20X2, 20X3 Informal Record Memo Record Projected Benefit Plan Obligation Assets Balance, Jan. 1, 20X1 Service cost Interest cost Actual return Unexpected loss Contributions Benefits Journal entry for 20X1 Accumulated OCI, Dec. 31, 20X0 Balance, Dec. 31, 20X1 Additional PSC, 1/1/20X2 Balance, Jan. 1, 20X2 Service cost Interest cost Actual return Amortization of PSC Contributions Benefits Liability loss Journal entry for 20X2 Accumulated OCI, Dec. 31, 20X1 Balance, Dec. 31, 20X2 Service cost Interest cost Actual return Unexpected loss Amortization of PSC Amortization of Loss Contributions Benefits Journal entry for 20X3 Accumulated OCI, Dec. 31, 20X2 Balance, Dec. 31, 20X3 Formal Record General Journal Entries DR (CR) OCI-Prior Annual Service OCIPension Pension Asset/Liabilit Cost Gain/Loss Expense Cash y Part 1: Samson Inc. has sponsored a noncontributory, defined benefit pension plan for its employees since 1999. Prior to 2016, cumulative net pension expense recognized equaled cumulative contributions to the plan. Other relevant information about the pension plan on January 1, 2016, is as follows. 1. The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 12 years and assume this is the same for each year. 2. The projected benefit obligation amounted to $5,000,000 and the fair value of pension plan assets was $3,000,000. The market-related asset value was also $3,000,000. Unrecognized prior service costs $2,000,000. On December 31, 2016, the projected benefit obligation and the accumulated benefit obligation were $4,850,000 and $4,025,000, respectively. The fair value of the pension plan assets amounted to $4,100,000 at the end of the year. A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan. The present value of benefits attributed by the pension benefit formula to employee service in 2016 amounted to $200,000. The employer's contribution to the plan assets amounted to $775,000 in 2016. This problem assumes no payment of pension benefits. Required: (a) Prepare a pension worksheet. (b) Prepare the journal entry for the pension in 2016. (c) Determine what would be the amount of the amortization of the net gains or losses in 2016 and 2017. (d) Prepare the 2016 footnote disclosure for the components of pension expense and reconciliation of the funded status. (e) Discuss why there continues to be a controversy pertaining to pensions. Part 2: Flynn Inc. has two temporary differences at the end of 20X2. The first difference stems from installment sales, and the second one results from the accrual of a loss contingency. Flynn's accounting department has developed a schedule of future taxable and deductible amounts related to these temporary differences as follows. 20X3 Taxable Amounts Deductible Amounts $ 40,000 20X4 20X5 20X6 $ 50,000 $60,000 $90,000 (15,000) (19,000) $40,000 $35,000 $41,000 $90,000 As of the beginning of 20X2, the enacted tax rate is 34% for 20X2 and 38% for 20X3-20X7. At the beginning of 20X2, the company had no deferred income taxes on its balance sheet. GAAP pre-tax income and taxable income for 20X2 is $400,000. Taxable income is expected in all future years. GAAP pretax income for 20X3 is $10,000. In addition, in 20X3, the company paid fines/penalties of $3,000 for late filing of its payroll taxes. Required: (a) Prepare journal entries to record income taxes for 20X2 and 20X3. Assume in 20X2, management believed the company would benefit from the loss contingency; in 20X3, management believes that the loss contingency probably will not occur and the company won't benefit. (b) Prepare the balance sheet disclosure pertaining to the deferred taxes. Assume the related asset and liabilities that caused the temporary differences are classified as noncurrent items on the balance sheet. (c) Prepare the income statement for 20X2 and 20X3, beginning with Income before income taxes