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Exercise 17-28 (Algo) Postretirement benefits; amortization of net loss [LO17-11] Cahal-Michael Company has a postretirement health care benefit plan. On January 1, 2021, the following plan-related data were available: Net loss-AOCI Accumulated postretirement benefit obligation Fair value of plan assets Average remaining service period to retirement ($ in thousands) $ 384 3,000 400 12 years (same in previous 10 years) The rate of return on plan assets during 2021 was 10%, although it was expected to be 9%. The actuary revised assumptions regarding the APBO at the end of the year, resulting in a $41,000 increase in the estimate of that obligation. Required: 1. Calculate any amortization of the net loss that should be included as a component of postretirement benefit expense for 2021. 2. Assume the postretirement benefit expense for 2021, not including the amortization of the net loss component, is $214,000. What is the expense for the year? 3. Determine the net loss or gain as of December 31, 2021. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate any amortization of the net loss that should be included as a component of postretirement benefit expense for 2021. (Enter your answers in thousands.) ($ in thousands) Net loss 10% of threshold Excess at the beginning of the year Average remaining service years Amount amortized to 2021 expense Required 1 Required 2 > Required 1 Required 2 Required 3 Assume the postretirement benefit expense for 2021, not including the amortization of the net loss component, is $214,000. What is the expense for the year? ($ in thousands) Postretirement benefit expense exclusive of net loss amortization Amortization of net loss Postretirement benefit expense $ 0.0 Required 1 Required 2 Required 3 Determine the net loss or gain as of December 31, 2021. thousands