Ivanhoe Corporation reports the following January 1, 2020 balances for its defined benefit pension plan, which it accounts for under IFRS: plan assets, $420,000; defined benefit obligation, $420,000. Other data relating to three years of operation of the plan are as follows:

		2020		2021		2022
Annual service cost		$37,000		$39,700		$58,000
Discount rate		10%		10%		10%
Actual return on plan assets		39,300		46,410		53,400
Funding of current service cost		37,000		39,700		58,000
Funding of past service cost				64,000		79,000
Benefits paid		32,200		37,280		45,000
Past service cost (plan amended, 1/1/21)				370,000
Change in actuarial assumptions establishes a December 31, 2022 defined benefit obligation of						1,196,000

a) Prepare and complete a pension work sheet for 2020.

b) Prepare a continuity schedule of the projected defined benefit obligation over the three-year period.

c) Prepare a continuity schedule of the plan assets over the three-year period.

d) Determine the pension expense for each of 2020, 2021, and 2022.

Pension expense, 2020		$
Pension expense, 2021		$
Pension expense, 2022

e) Prepare the journal entries to reflect the pension plan transactions and events for each year.

d) Prepare a schedule reconciling the pension plans surplus or deficit with the pension amounts reported on the SFP over the three-year period.

f)

Determine the pension expense for each of 2020, 2021, and 2022 assuming that the company applies ASPE.

Pension expense, 2020		$
Pension expense, 2021		$
Pension expense, 2022