*P20-14 (L06,7) (Postretirement Benefit Worksheet-2 Years) Elton Co. has the following postretirement benefit plan bal ances on January 1, 2017 Accumulated postretirement benefit obligation $2,250,000 Fair value of plan assets 2,250,000 The interest (settlement) rate applicable to the plan is 10%. Or a ry 1, 2018, the company amends the plan so that peor service costs of $175,000 are created. Other data related to the plan and 2017 $ 75,000 Service costs Prior service costs amortization Contributions (funding) to the plan Benefits paid Actual return on plan assets Expected rate of return on assets 2018 $ 85,000 12,000 35,000 45,000 120,000 45,000 40,000 140,000 Instructions (a) Prepare a worksheet for the postretirement plan in 2017. (b) Prepare any journal entries related to the postretirement plan that would be needed at December 31, 2017 to Prepare a worksheet for 2018 and any journal entries related to the postretirement plan as of December 31, 2018. d) Indicate the postretirement benefit-related amounts reported in the 2018 financial statements