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Please help with this part Oriole Company sponsors a defined benefit pension plan for its employees. The following data relate to the operation of the
Please help with this part
Oriole Company sponsors a defined benefit pension plan for its employees. The following data relate to the operation of the plan for the year 2025 in which no benefits were paid. 1. The actuarial present value of future benefits earned by employees for services rendered in 2025 amounted to $56,300. 2. The company's funding policy requires a contribution to the pension trustee amounting to $153,270 for 2025 . 3. As of January 1, 2025, the company had a projected benefit obligation of $901,700, an accumulated benefit obligation of $800,900, and a debit balance of $397,800 in accumulated OCI (PSC). The fair value of pension plan assets amounted to $602,100 at the beginning of the year. The actual and expected return on plan assets was $54,400. The settlement rate was 10\%. No gains or losses occurred in 2025 and no benefits were paid. 4. Amortization of prior service cost was $49,500 in 2025 . Amortization of net gain or loss was not required in 2025 . Indicate the amounts that would be reported on the income statement for the year 2025Step by Step Solution
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