Lane Corporation is a publicly owned company that follows IFRS. On Dec 31 2020, Lanes financial records indicated the following information related to the companys defined benefit pension plan:

Defined Benefit Obligation		$1,920,000
Pension Plan Assets		1,450,000

On Jan 1, 2021, Lane acquired the operations of Solutions Ltd. As one of the conditions of the purchase, lane agreed that Solutions employees would be included in lanes defined benefit pension plan, and would be granted credit for the past service of solutionss employees. The actuary estimated the value of the prior service amount granted on Jan 1, 2021 to be $400,000. Lane actuary provided the following information on December 31, 2021:

Current year service cost		$900,000
Employer contributions for the year		600,000
Benefits paid to retirees		400,000
Actuarial increase in pension obligations		300,000
Discount rate		7%
Actual return on assets		6%

The trustee of the pension plan reported the fair value fo the plan assets at Dec 31 2021. Amounted to $800,000

• Calculate the pension expense for 2021
• Calculate the finance charge/income for 2021
• Calculate the re-measurement adjustment for 2021
• Calculate the funded status at Dec 31, 2021
• Provide the related Journal entries for the pension expense, finance charge/income, re-measurement and funding of Lanes Pension Plan for 2021
• Assume instead that Lane follows ASPE (instead of IFRS) Describe how the accounting for this pension plan would differ.