NOTES To receive full credit, answers should have some form of written support. This also increases the likelihood of receiving partial credit for incorrect answers. . Solution is posted in the course space 24 hours after problem due date problems will not be accepted for credit once the solution is posted. . REQUIRED Below are beginning balances and other information for Smith Co.'s pension as of the beginning of 2017 Prepare a pension worksheet for 2017: .Enter beginning balances into the worksheet (be sure to designate whether each item has a debit or credit balance- use DR and CR or use parentheses for credits). 2 points) Complete the worksheet for 2017, including totals in columns for which balances are (14 points) 4 points) . brought forward to 2018. Prepare the 2017 pension expense entry Beginning balances (Janua Othe Other Comprehensive Income - Prior Service Cost Pension Asset/Liability Pension Plan Assets Projected Benefit Obligation $190,000 DR 325,000 DR $250,000 CR $550,000 DR 800,000 CR r Comprehensive Income -Gains/Losses 95,000 $125,000 Benefits paid to retirees during 2017 Funding of pension plan at the end of 2017 Service cost earned in 2017 Actual ROA Expected ROA Settlement (discount) rate Average service life per employee 65,000 8% 12% 9% 10 years Pension Expense$114,500