OBLEM Presented below is information related to Marley Inc. pension data for 2011. Service cost Amortization of unrecognized net loss Amortization of unrecognized prior service cost Actual return on plan assets $600,000 90,000 65,000 800,000 750,000 165,000 Projected benefit obligation at January 1,2011 Plan assets at January 1,2011 Contribution (funding) Benefits paid to retirees Settlement rate 300,000 200,000 9% Expected rate of return 7% REQUIRED 1) Calculate pension expense for 2011 Prepare the journal to record the pension expense. y 1, 2010, Warren Corporation had 700,000 shares of common stock ou EBimated litigat tion expense Violation of laws(Hazardous waste) Rent received in advance 1,300,000 90.000 150,000 Use of the depreciable assets will result in taxable amounts of $500,000 in each of the next three years. The i Required: 1) Calculate taxable income for 2007. 2) Prepare one journal entry to record income tax expense and all related deferred taxes ncome tax rate is 30% for all years. in 2007. PROBLEM On January 1, 2010, Warren Corporation had 700,000 shares of common st outstanding. On March 1, the corporation issued 200,000 new shares to raise additic capital. On July 1, the corporation declared and issued a 3-for-1 stock split. On Oct 1, the corporation purchased on the market 300,000 of its own outstanding shares retired them. 18,000 shares of 7%, $100 par value, non-cumulative, preferred stock were outsta (convertible into 40,000 common shares). Dividends were declared and paid for t . 2010 Net income for 2010 was $4,300,000. Tax rate was 35%. . Required: Determine the Diluted Earnings Per Share for 2010