Lacy Construction has a noncontributory, defined benefit pension plan. At December $31,2024,$ Lacy received the following information:

The expected long$-$term rate of return on plan assets was $10\%.$ There were no AOCl balances related to pensions on January $1,2024.$

At the end of $2024,$ Lacy amended the pension formula creating a prior service cost of $$20$ million.

Required:

Determine Lacy's pension expense for $2024.$

Prepare the journal entry$($s$)$ to record Lacy's $($a$)$ pension expense, $($b$)$ gains or losses, $($c$)$ prior service cost, $($d$)$ funding, and $($e$)$

payment of retiree benefits for $2024.$

Complete this question by entering your answers in the tabs below.

Required $1$

Prepare the journal entry$($s$)$ to record Lacy's $($a$)$ pension expense, $($b$)$ gains or losses, $($c$)$ prior service cost, $($d$)$ funding, and $($e$)$

payment of retiree benefits for $2024.$

Note: If no entry is required for a transaction$/$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 $10).$

Complete this question by entering your answers in the tabs below.

Determine Lacy's pension expense for $2024.$

Note: Amounts to be deducted should be indicated with a minus sign. Enter your answer in millions $($i$.$e$.,10,000,000$ should

be entered as $10).$