PARTY Presented below is information related to the pension plan of Zimmer Inc for the year 2018. 1. The service n ae en vice cost related to pension expense is $260,000 using the projected benefits appr related to pension expense is s260,000 using the projected benefits approach. 2. The projected benefit obligation and the accumulated benefit obligation at the beginning of the year are respectively. The expected return on plan assets is 9% and the settlement rate is 10%. The actual return on plan assets for the year is reported as $24,700. 3. The accumulated OCI - prior service cost at the beginning of the year is $140,000. The company has a workforce of 200 employees, all who are expected to receive benefits under the plan. The total number of service-years is 1,000 and the service-years attributable to 2018 is 200. The company has decided to use the straight line method of amortization for these costs. At the beginning of the period, the fair value of pension plan assets was $280,000. The company had an Accumulated OCI (loss) at the beginning of the period of $90,000. Any amortization of unrecognized net loss is recognized on a straight-line basis over the average remaining service-life of the employees. 4. 5. The contribution made to the pension fund in 2018 was $229,000 Instructions: answers. (Round all computations to nearest dollar.) Answer the following questions. You can use the enclosed worksheet, if you wish, to organize your A. Compute 2018 pension expense Compute the 12/31/18 projected benefit obligation. B. 12 C. Compute the 12/31/18 plan assets. D. Prepare the journal entry to record pension expense at 12/31/18 What amount will be reported as Pension Asset/Liability at 12/31/18? E. Compute the total balance in Accumulated Other Comprehensive Income at 12/31/18, and indicate how it affects the 12/31/18 balance sheet. F