Lacy Construction has a noncontributory, defined benefit pension plan At December 31, 2021, Lacy received the following information Projected Benefit obligation is in 11 Lona) Balance, January 1 S 360 Service cost 6 Prior service cost 12 Interest cost (1.50) 27 Benefits pald (27) Balance, December 31 8422 Plan Manta Balance, January 1 Actual return on plan asseta Contributions, 2021 Benefits paid balance, December 31 ($ In Milliona) $240 27 60 127) 5290 The expected long-term rate of return on plan assets was 10%. There were no AOCI balances related to pensions on January 1, 2021 At the end of 2021, Lacy amended the pension formula creating a prior service cost of $12 million Required: 1. Determine Lacy's pension expense for 2021, 2. Prepare the summary journal entry to record Lacy's pension expense, gains or losses, prior service cost, funding, and payment of retiree benefits for 2021 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the summary journal entry to record Lacy's pension expense, gains or losses, prior service cost, funding, and payment of retiree benefits for 2021. Enter your answers in millions (L., 10,000,000 should be entered as 10).) View transactions > A Prepare the summary journal entry to record all pension effects for 2021. 221 Description Crede