Instructions a) Prepare a pension worksheet for the pension plan for (b) For 2018, prepare the journal entry to record pension-related amounts. P20-2 (L01,2,3,4,5) GROUPWORK (3-Year Worksheet, Journal Entries and Reporting) Jackson Company adopts accept- able accounting for its defined benefit pension plan on January 1, 2016, with the following beginning balances plan assets $200,000, projected benefit obligation 5250,000. Other data relating to 3 years' operation of the plan are as follows. 2016 2017 2018 Annual service cost Settlement rate and expected rate of return $16,000 $ 19.000 $ 26,000 Actual return on plan assets 10% 10% 10% Annual funding contributions) 18.000 22.000 24.000 Benefits paid 16,000 40,000 48.000 14.000 Prior service cost (plan amended, 1/1/17) 16,400 21.000 Amortization of prior service cost 160,000 Change in actuarial assumptions establishes 54.400 41.600 December 31, 2015 projected benefit obligation of 520,000 Instructions (a) Prepare a pension worksheet presenting all 3 years' pension balances and activities (b) Prepare the journal entries (from the worksheet) to reflect all pension plan transactions and events at December 31 of (c) Indicate the pension-related amounts reported in the financial statements for 2018, P20-3 (LO1.2.3.4 - each year