Logan Corp., a company whose stock is publicly traded, provides a noncontributory defined-benefit pension plan for its employees. The company's actuary has provided the following information for the year ended December 31, 2015:

Balances as of December 31, 2014

Projected benefit obligation $700,000

Fair value of plan assets $825,000

Following information for 2015

Service cost $240,000

Interest on projected benefit obligation $24,000

Amortization of prior service cost $60,000

Expected and actual return on plan assets $82,500

The market-related asset value equals the fair value of plan assets. No contributions have been made for 2015 pension cost. At December 31, 2015 The funded status of this pension is $ (Must indicate overfunded or underfunded and $$ amount)

#10.Funded Status of Pensions as of December 31, 2015 =$ (Must indicate overfunded or underfunded and $$ amount)

Cross Company reported the following results for the year ended December 31, 2018, its first year of operations:

2018

Income (per books before income taxes) $ 2,000,000

Taxable income $ 3,200,000

The disparity between book income and taxable income is attributable to a temporary difference which will reverse in 2019.

What should Cross record as a net deferred tax asset or liability for the year ended December 31, 2018, assuming that the enacted tax rates in effect are 40% in 2018 and 35% in 2019?

#11 - Indicate whether a deferred Tax Asset or Deferred Tax Liability and $$ Amount as of December 31, 2018