Need (d)

Income statement (partial)

Comprehensize Income statememt

Balance sheet (partial)

Sheffield Company sponsors a defined benefit plan for its 100 employees. On January 1, 2020, the company's actuary provided the following information. The average remaining service period for the participating employees is 10 years. All employees are expected to receive benefits under the plan. On December 31,2020 , the actuary calculated that the present value of future benefits earned for employee services rendered in the current year amounted to $52,600; the projected benefit obligation was $483,300; fair value of pension assets was $277,300; the accumulated benefit obligation amounted to $368,800. The expected return on plan assets and the discount rate on the projected benefit obligation were both 10%. The actuai return on plan assets is $10,400. The company's current year's contribution to the pension plan amounted to $65,600. No benefits were paid during the year Determine the components of pension expense that the company would recognize in 2020 . (With only one year involved, you need not prepare a worksheet.) (Enter amounts that reduce pension expense with either a negative stin preceding the number egg - 45 or parenthesis eg (45.) Prepare the joumal entry to record the pension expense and the company's funding of the pension plan in 2020 . (Credit account titles are outomatically indented when amount is entered. Do not indent monually If no entry is required, select "No Entry" for the occount titles and enter O for the amounts. Compute the amount of the 2020 increase/decrease in gains or losses and the amount to be amortized in 2020 and 2021 2020 increase/Decrease in Amortization in 2020 Amortization in 2021 Indicate the pension amounts reported in the financial statement as of December 31, 2020. (Enter negotive omounts using either a negotive sign preceding the number e.8. 15,630 or parentheses eg. (15,630)J Sheffield Company Comprehensive Income Statement For the Year Ended December 31, 2020 Net Income/ (Loss) $00x Sheffield Company Balance Sheet (Partial) December 31,2020 Liabilities Pension Asset/Liability Stockholders' Equity Accumulated Other Comprehensive Loss (PSC) $ Accumulated Other Comprehensive Loss