Lacy Construction has a noncontributory, defined benefit pension plan. At December 31, 2013, Lacy received the following information:

Projected Benefit Obligation

	($ in millions)
Balance, January 1	$	660
Service cost		90
Interest cost (5%)		33
Benefits paid		(80	)
Balance, December 31	$	703

Plan Assets	($ in millions)
Balance, January 1	$	530
Actual return on plan assets		56
Contributions 2013		90
Benefits paid		(80	)
Balance, December 31	$	596

The expected long-term rate of return on plan assets was 10%. There were no AOCI balances related to pensions on January 1, 2013. At the end of 2013, Lacy amended the pension formula creating a prior service cost of $42 million.

Required:

1

Determine Lacy's pension expense for 2013. (Enter your answer in millions.) Pension Expense: million 2. Prepare the journal entry(s) to record Lacys pension expense, gains or losses, prior service cost, funding, and payment of retiree benefits for 2013. (If no entry is required for a particular event, select "No journal entry required" in the first account field. Enter your answers in millions. (i.e., 10,000,000 should be entered as 10).) 1. Record the pension expense. 2. Record the gain on plan assets. 3. Record the prior service cost. 4. Record the funding. 5. Record the payment of benefits.