On January 1, 2020, Leo Company started a defined benefit pension plan. Data

related to the pension plan is presented below. Plan assets, 1/1/20 $150,000 Projected benefit obligation, 1/1/20 150,000 Annual service cost, 2020 17,000 Settlement rate, 2020 12% Actual return on plan assets, 2020 15,000 Employer's contribution, 2020 16,000 Benefits paid to retirees, 2020 10,000 Instructions: Based upon the information presented above prepare a pension work sheet for Leo Company for 2020, and record the journal entry to formally recognize pension expense for 2020. Leo Company Pension Worksheet --2020 General Journal Entries Memo Record Annual Pension Expense Pension Asset/Liability Projected Benefit Obligation Items Cash Plan Assets