Janis Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2021, the following balances related to this plan:

Plan assets at fair value $2,200,000

Projected benefit obligation $2,400,000

Pension asset/liability 200,000 (cr.)

Prior service cost 300,000

OCI-Loss 260,000

As a result of the operation of the plan during 2021, the actuary provided the following additional data at December 31, 2021.

Service cost for 2021 $280,000

Actual return on plan assets 180,000

Amortization of prior service cost 60,000

Contributions in 2021 460,000

Benefits paid in 2021 320,000

Settlement rate 7%

Expected return rate 8%

Average remaining service life of employees 10 years

Required:

Based on the above information, prepare a completed pension worksheet. Write the 2021 summary journal entry in the space below.