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Pharoah Corporation is a privately - owned company that uses ASPE. On January 1 , 2 0 2 3 , Pharoah's financial records indicated the

Pharoah Corporation is a privately-owned company that uses ASPE. On January 1,2023, Pharoah's financial records indicated the following information related to the company's defined benefit pension plan:Defined Benefit Obligation $12,968,000Pension Plan Assets11,330,000Pharoah's actuary provided the following information on December 31,2023:Current year service costPrior service cost, granted Jan 1,2023Employer contributions for the year Benefits paid to retireesActuarial Remeasurement GainDiscount rateActual return on assets$668,000251,000950,000347,00079,0005%6%

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