Instructions On January 1, 2016. Flash and Dash Company adopted a healthcare plan for its retired employees. To determine eligibility for benefits, the company retroactively gives credit to the date of hire for each employee. The following information is available about the plan: Service cost $31.550 114.000 0 Accumulated postretirement benefit obligation (1/1/16) Expected return on plan assets Amortization of Prior service cost Payments to retired employees during 2016 Interest rate 11,400 5.530 10% Average remaining service period of active plan participants (1/1/18) 10 years Required: 1. Compute the OPRB expense for 2016 if the company uses the average remaining service life to amortize the prior service cost 2. Prepare all the required journal entries for 2016 if the plan is not funded General Journal Prepare the entries to record: 1. the prior service cost on January 1 2. the postretirement benefit expense for 2016 on December 31 3. the payments to retired employees during 2016 on December 31. 4. the amortization of prior service cost on December 31. PAGE 1 GENERAL JOURNAL DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT 1 Jan 1 2 3 Dec 31 + 5 Dec 31 6 - Dec 51 Analysis Compute the OPRE expense for 2016 if the company uses the average remaining service life to amortize the prior service cost OPRB expenses