On January 1, 2016, Flash and Dash Company adopted a healthcare plan for its retired employees. To determine eligibility for benefits, the company retroactively gives credit to the date of hire for each employee. The following information is available about the plan: Service cost Accumulated postretirement benefit obligation (1/1/16) Expected return on plan assets Amortization of Prior service cost Payments to retired employees during 2016 Interest rate $30,000 120,000 0 10,000 5,000 10% Average remaining service period of active plan participants (1/1/16) Required: 12 years 1. Compute the OPRB expense for 2016 if the company uses the average remaining service life to amortize the prior service cost. 2. Prepare all the required journal entries for 2016 if the plan is not funded. PAGE 1 GENERAL JOURNAL Score: 101/101 DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT 1 Jan. 1 Other Comprehensive Income: Prior Service Cost 120,000.00 2 Accrued Postretirement Benefit Cost 120,000.00 4 3 Dec. 31 Postretirement Benefit Expense Accrued Postretirement Benefit Cost 52,000.00 52,000.00 5 Dec. 31 Accrued Postretirement Benefit Cost 5,000.00 6 Cash 7 Dec. 31 Accrued Postretirement Benefit Cost 8 Other Comprehensive Income: Prior Service Cost 5,000.00 10,000.00 10,000.00 Compute the OPRB expense for 2016 if the company uses the average remaining service life to amortize the prior service cost. OPRB expense $