Lemke Company sponsors a defined benefit pension plan for its employees. The following data relate to the operation of the plan for the years 2017 and 2018. Prepare a pension worksheet presenting both years 2017 and 2018. (Round answers to 0 decimal places, e.g. 5,125. Enter all amounts as positive.) Calculate the amortization of the loss (2018) using the corridor approach.

Problem 20-8 (Part Level Submission) Lemke Company sponsors a defined benefit pension plan for its employees. The following data relate to the operation of the plan for the years 2017 and 2018. 2018 Projected benefit obligation, January 1 Plan assets (fair value and market-related value), January 1 Pension asset/liability, January 1 Prior service cost, January 1 Service cost Settlement rate Expected rate of return Actual return on plan assets Amortization of prior service cost Annual contributions Benefits paid retirees Increase in projected benefit obligation due to changes in actuarial assumptions Accumulated benefit obligation at December 31 Average service life of all employees Vested benefit obligation at December 31 2017 $600,000 410,000 190,000 Cr. 160,000 40,000 10 % 10 % 36,000 70,000 97,000 31,500 87,000 721,800 $59,000 10 % 10 % 61,000 50,000 81,000 54,000 789,000 20 years 464,000 LEMKE COMPANY Pension Worksheet-2017 and 2018 General Journal Entries OCI-Prior OCI - Gain/ Service Cost Loss Annual Pension Expense Items Pension Asset/ Liability Memo Record Projected Benefit Plan Obligation Assets Cash Balance, Jan. 1, 2017 Service cost Interest cost Actual return Unexpected loss Amortization of PSC Contributions Benefits Increase in PBO Journal entry for 2017 Accumulated OCI, Dec. 31, 2016 Balance, Dec. 31, 2017 Balance, Dec. 31, 2017 Service cost Interest cost Actual return Unexpected gain Amortization of PSC Amortization of loss Contributions Benefits Journal entry for 2018 Accumulated OCI, Dec. 31, 2017 Balance, Dec. 31, 2018 Calculate the amortization of the loss (2018) using the corridor approach. Amortization of the loss Problem 20-8 (Part Level Submission) Lemke Company sponsors a defined benefit pension plan for its employees. The following data relate to the operation of the plan for the years 2017 and 2018. 2018 Projected benefit obligation, January 1 Plan assets (fair value and market-related value), January 1 Pension asset/liability, January 1 Prior service cost, January 1 Service cost Settlement rate Expected rate of return Actual return on plan assets Amortization of prior service cost Annual contributions Benefits paid retirees Increase in projected benefit obligation due to changes in actuarial assumptions Accumulated benefit obligation at December 31 Average service life of all employees Vested benefit obligation at December 31 2017 $600,000 410,000 190,000 Cr. 160,000 40,000 10 % 10 % 36,000 70,000 97,000 31,500 87,000 721,800 $59,000 10 % 10 % 61,000 50,000 81,000 54,000 789,000 20 years 464,000 LEMKE COMPANY Pension Worksheet-2017 and 2018 General Journal Entries OCI-Prior OCI - Gain/ Service Cost Loss Annual Pension Expense Items Pension Asset/ Liability Memo Record Projected Benefit Plan Obligation Assets Cash Balance, Jan. 1, 2017 Service cost Interest cost Actual return Unexpected loss Amortization of PSC Contributions Benefits Increase in PBO Journal entry for 2017 Accumulated OCI, Dec. 31, 2016 Balance, Dec. 31, 2017 Balance, Dec. 31, 2017 Service cost Interest cost Actual return Unexpected gain Amortization of PSC Amortization of loss Contributions Benefits Journal entry for 2018 Accumulated OCI, Dec. 31, 2017 Balance, Dec. 31, 2018 Calculate the amortization of the loss (2018) using the corridor approach. Amortization of the loss