Lacy Construction has a noncontributory, defined benefit pension plan. At December 31, 2018, Lacy received the following information:

Projected Benefit Obligation	($ in millions)
Balance, January 1		$	560
Service cost			80
Prior service cost			32
Interest cost(5.0%)			28
Benefits paid			(87	)
Balance, December 31		$	613

Plan Assets	($ in millions)
Balance, January 1		$	430
Actual return on plan assets			45
Contributions 2018			80
Benefits paid			(87	)
Balance, December 31		$	468

The expected long-term rate of return on plan assets was 10%. There were no AOCI balances related to pensions on January 1, 2018. At the end of 2018, Lacy amended the pension formula creating a prior service cost of $32 million. Required: 1. Determine Lacy's pension expense for 2018. 2. Prepare the journal entry(s) to record Lacys pension expense, gains or losses, prior service cost, funding, and payment of retiree benefits for 2018.