Latoya Company provides the following selected information related to its defined benefit pension plan for 2017.

Pension asset/liability (January 1)		$25,000	Cr.
Accumulated benefit obligation (December 31)		400,000
Actual and expected return on plan assets		10,000
Contributions (funding) in 2017		150,000
Fair value of plan assets (December 31)		800,000
Settlement rate		10	%
Projected benefit obligation (January 1)		700,000
Service cost		80,000

Compute pension expense.

Pension expense for 2017

$

A. Prepare the journal entry to record pension expense and the employers contribution to the pension plan in 2017. Preparation of a pension worksheet is not required. Benefits paid in 2017 were $35,000.

B. Indicate the pension-related amounts that would be reported in the companys income statement and balance sheet for 2017.