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Please show all supporting computations. Points will be dedueted if you do not show your work. 1. Presented below is information related to the Chester

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Please show all supporting computations. Points will be dedueted if you do not show your work. 1. Presented below is information related to the Chester Corporation pension plan for 2018 Accumulated benefit obligation (at year-end) Service cost Funding contribution for 2018 Settlement rate used in actuarial computation Return on plan assets Amortization of PSC (due to benefit increase) Amortization of net gains Projected benefit obligation (at beginning of period) Fair value of plan assets (at beginning of period) $560,000 320,000 370,000 6% 24,000 90,000 28,000 450,000 460,000 Instructions (a) Compute the amount of pension expense to be reported for 2018. (1 point) (b) Prepare the journal entry to record pension expense and Chester's contribution for 2018. (3 points) DateAccount Titles Debit Credit

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