On January 1, 2016, J Company reports the following beginning balances related to its defined benefit pension plan: During 2016, J Company reported $120,000 in service cost, contributions of $70,000 and benefits paid of $90,000. The actual return is 6% and the expected return in 8%. The interest/discount rate is 10%. Assuming there are no additional pension related transactions or accounts, prepare the journal entry to record J Company's pension items for 2016. B. L Company offered a defined benefit pension plan to its employees starting December 31, 2012. L Company reports the following defined benefit pension plan information for 2013 and 2014. Using this information, prepare the journal entries and financial statement presentation for 2013 and 2014