Looking at all of the different estimated rates for 2020 and 2021, which two would you say are most likely to be internally inconsistent? Explain.

Question 1 (18 points - 6 points each) Bedford Beds makes furniture and provides a defined benefit pension plan to their employees. You are examining some of the assumptions the company has made over the last few years with regard to the plan. a) If Bedford had used the same expected long-term rate of return on plan assets in 2021 as it had in 2019 what would the likely affect be, if any, on total plan assets? On total plan obligations? And on the total funding status of the plan? Explain. b) For this part, assume the company's pension plan was underfunded and they showed a pension liability on the Balance Sheet. If Bedford had used the same discount rate in 2021 as it had in 2019 what would the likely affect be, if any, on the pension liability shown on the Balance Sheet? Explain. Question 1 (18 points - 6 points each) Bedford Beds makes furniture and provides a defined benefit pension plan to their employees. You are examining some of the assumptions the company has made over the last few years with regard to the plan. a) If Bedford had used the same expected long-term rate of return on plan assets in 2021 as it had in 2019 what would the likely affect be, if any, on total plan assets? On total plan obligations? And on the total funding status of the plan? Explain. b) For this part, assume the company's pension plan was underfunded and they showed a pension liability on the Balance Sheet. If Bedford had used the same discount rate in 2021 as it had in 2019 what would the likely affect be, if any, on the pension liability shown on the Balance Sheet? Explain