Jones Manufacturing Inc. sponsored a defined benefit pension plan effective $1$ January $20$X$7.$ The company uses the projected unit

credit actuarial cost method for funding and accounting. Long$-$term corporate bonds have a yield of $4\%.$ Employees were granted

partial credit for past service. The past service obligation has been measured at $$1,655,000$ as of $1$ January $207.$ The company will

pay $$206,000($for past service$)$ plus all current service cost to the pension plan trustee each $31$ December beginning $31$ December

$20$X$7.$ This funding arrangement will continue for five years and then be re$-$evaluated.

Data for $207$ and $208$

Required:

Prepare a spreadsheet containing all relevant pension information for $207$ and $208.$