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Pension data for Sterling Properties include the following: ($ in 00s) Service cost, 2016 $155 Projected benefit obligation, January 1, 2016 500 Plan assets (fair
Pension data for Sterling Properties include the following: ($ in 00s) Service cost, 2016 $155 Projected benefit obligation, January 1, 2016 500 Plan assets (fair value), January 1, 2016 600 Prior service cost-AOCI (2016 amortization, $8) 83 Net loss-AOCI (2016 amortization, $1) 104 Interest rate, 7% Expected return on plan assets, 11% Actual return on plan assets, 12% Required: Determine pension expense for 2016. (Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.)
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