Ivanhoe Company received the following selected information from its pension plan trustee concerning the operation of the company's defined benefit pension plan for the year ended December 31, 2020. January 1, 2020 $1,471,000 Projected benefit obligation Market-related and fair value of plan assets Accumulated benefit obligation Accumulated OCI (G/L)-Net gain 804,000 1,573,000 December 31, 2020 $1,497,000 1,136,400 1,691,300 (197,100) 0 The service cost component of pension expense for employee services rendered in the current year amounted to $76,000 and the amortization of prior service cost was $118,300. The company's actual funding (contributions) of the plan in 2020 amounted to $252,000. The expected return on plan assets and the actual rate were both 10%; the interest/discount (settlement) rate was 10%. Accumulated other comprehensive income (PSC) had a balance of $1,183,000 on January 1, 2020. Assume no benefits paid in 2020. Your answer is correct. Determine the amounts of the components of pension expense that should be recognized by the company in 2020. (Enter amounts that reduce pension expense with either a negative sign preceding the number e.g.-45 or parenthesis e.g. (45).) Components of Pension Expense Service Cost $ 76000 Interest on Projected Benefit Obligation 147100 Expected Return on Plan Assets -80400 Amortization of Prior Service Cost 118300 261000 List of Accounts Your answer is correct. Prepare the journal entry to record pension expense and the employer's contribution to the pension plan in 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit Pension Expense 261000 Pension Asset/Liability 306400 Cash 252000 Other Comprehensive Income (PSC) 118300 Other Comprehensive Income (G/L) 197100 (To record pension expense and employer's contribution) List of Accounts Your answer is partially correct. Indicate the pension-related amounts that would be reported on the income statement and the balance sheet for Ivanhoe Company for the year 2020. Ivanhoe Company Income Statement (Partial) For the Year Ended December 31, 2020 $ $ Ivanhoe Company Comprehensive Income Statement For the Year Ended December 31, 2020 $XXXX $ $XXXX Ivanhoe Company Balance Sheet (Partial) December 31, 2020 $ List of Accounts