Lewis Industries adopted a defined benefit pension plan on January $1,2024.$ Lewis Industries adopted a defined benefit pension plan on January $1,2024.$

By making the provisions of the plan retroactive to prior years, Lewis incurred a prior service cost of $$2$ million.

The prior service cost was funded immediately by a $$2$ million cash payment to the fund trustee on January $2,2024.$

However, the cost is to be amortized $($expensed$)$ over $10$ years.

The service cost$-$ $$250,000$ for $2024-$is fully funded at the end of each year.

Both the actuary's discount rate and the expected rate of return on plan assets were $9\%.$

The actual rate of return on plan assets was $11\%.$

At December $31,$ the trustee paid $$16,000$ to an employee who retired during $2024.$

Required:

Determine each of the following amounts as of December $31,2024,$ the fiscal year$-$end for Lewis:

Note: Enter your answers in whole dollars.

Balance at

December $31$

Projected benefit obligation

Plan assets

Pension expense

By making the provisions of the plan retroactive to prior years, Lewis incurred a prior service cost of $$2$ million.

The prior service cost was funded immediately by a $$2$ million cash payment to the fund trustee on January $2,2024.$

However, the cost is to be amortized $($expensed$)$ over $10$ years.

The service cost$$$$250,000$ for $2024$is fully funded at the end of each year.

Both the actuary$$s discount rate and the expected rate of return on plan assets were $9\%.$

The actual rate of return on plan assets was $11\%.$

At December $31,$ the trustee paid $$16,000$ to an employee who retired during $2024.$

Required:

Determine each of the following amounts as of December $31,2024,$ the fiscal year$-$end for Lewis: