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Selected Data on a benned benent pension pian TONOWS. Based on this data, answer questons I to L. 7 8 9 $ 10 11 12 13 Change in benefit obligation: Obligation at beginning of the year Interest cost Current year service cost Actuarial loss Benefits paid to retirees Benefit obligation end of year 28,000 800 1,800 1,500 (2,600) 29,500 14 15 16 $ 26,700 17 2,000 18 19 20 21 Change in the plan ossets: Fair value of plan assets at beginning of year Contributions from employer and employees Actual return on plan assets Benefits paid to retirees Fair value of plan assets at end of year (1,500) (2,600) 24,600 $ 25 26 27 28 29 23 (1). What would the Company present on its year-end statement of financial position relating to the pension 24 asset or liability? A. $29,500 asset B. $4,900 asset C. $4,900 liability D. $24,600 asset 30 (2). The approximate discount rate used to determine the obligation is closest to: A. 2.9% B. 2.7% 3.3% D. 3.0% #1 Answer 31 32 33 34 25 #2