P$19\mathrm{.}9$ Dela Corporation initiated a defined benefit pension plan for its $50$ employees on January $1,2023.$ The insurance company that administers the pension plan provides the following

information for the years $2023,2024,$ and $2025$:

Plan assets $($fair value$)$

Defined benefit obligation

Net actuarial $($gain$)$ loss: DBO

Remeasurement $($gain$)$ loss: fund assets $??(18,200)$

Employer's funding contribution $(madeat$ end $of$ year$)50,000,60,000,95,000$

There were no balances as at January $1,2023,$ when the plan was initiated, because no credit was given for past service. The rate used to discount the company's pension obligation was $13\%$

in $2023,11\%$ in $2024,$ and $8\%$ in $2025.$ The service cost component of net periodic defined benefit expense amounted to the following: $2023,$ $$55,000$;$2024,$$$85,000$; and $2025,$ $$119,000.$

No benefits were paid in $2023,$ but $$30,000$ was paid in $2024,$ and $$35,000$ in $2025.($All benefits were paid and all actuarial gains and losses were determined at the end of the year.$)$ The

company applies ASPE.

Instructions

Depending on what your instructor assigns, do either parts $($a$),($b$),($c$),($e$),$ and $($f$)$ or parts $($d$),($e$),$ and $($f$).($Round all answers to the nearest dollar.$)$

a$.$ Prepare a continuity schedule for the defined benefit obligation over the three$-$year period.

b$.$ Prepare a continuity schedule for the plan assets over the three$-$year period.

c$.$ Calculate the amount of net periodic defined benefit expense that the company will recognize in each of $2023,2024,$ and $2025.$ Identify any components of defined benefit expense that

should be separately disclosed.

d$.$ Prepare and complete a pension work sheet for each of $2023,2024,$ and $2025.$ Identify any components of defined benefit expense that should be separately disclosed.

e$.$ Determine the plan surplus or deficit at December $31,2025,$ and the balance of the Net Defined Benefit Liability$/$Asset account that will be reported on the December $31,2025$ balance

sheet. Briefly explain any difference or similarity in these amounts.

f$.$ Discuss what accounting policy choices, if any, are available under ASPE in accounting for defined benefit plans such as this.