On January 1, 2020, Cheyenne Company has the following defined benefit pension plan balances. Projected benefit obligation $4,585,000 Fair value of plan assets 4,190,000 The interest (settlement) rate applicable to the plan is 10%. On January 1, 2021, the company amends its pension agreement so that prior service costs of $505,000 are created.

Other data related to the pension plan are as follows.

2020 2021 Service cost $151,000 $178,000

Prior service cost amortization 0 92,000

Contributions (funding) to the plan 245,000 284,000

Annual Pension Expense Cash OCIPrior Service Cost OCIGain/ Loss Pension Asset/ Liability Projected Benefit Obligation Plan Assets Balance,

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