On December $31,2020,$ Horsebarn Co$.$ had the following defined benefit pension plan balances $($in thousands of $s$)$:

Projected benefit obligation Plan assets

AOCI $-$ Prior service costs AOCI $-$ Net gains and losses

$$2,400$ Cr$.$ $$2,250$ Dr$.306$ Dr$.$ $$328$ Dr$.$

As of December $31,2021,$ the fair value of the plan assets is $$2,615.$ The balance of the projected benefit obligation on December $31,2021$ is $$2,620.$

In addition, Horsebarn amended their plan as of January $1,2018,$ giving rise to $$360$ of prior service costs.

The interest $($settlement$)$ rate applicable to the plan is $7\%.$

Horsebarn estimates that the average remaining service time of their current employees is $22$ years in $2021.$

Horsebarn records any necessary amortization of prior service costs and actuarial gains and losses using the straight$-$line method over the expected average remaining service life of current employees.

Other data related to the pension plan are $($in thousands of $s$)$:

$2021$

Contributions by Horsebarn to the plan $260$ Benefits Paid $100$ Expected rate of return on assets $6\%$

Required:

$1)$ Prepare a completed pension worksheet for fiscal year $2021$ using the below worksheet.

$2)$ What is the funded status of the pension plan on December $31,2021?$

$3)$ If Net Income for $2021$ is $$200,$ what is Comprehensive Income for $2021?$

Memo Record