PLEASE SHOW ALL WORK!!!

PLEASE SHOW ALL WORK!!!

On January 1, 2020. Bills Ltd., a private company using ASPE, reported the following balances relating to their defined benefit pension plan: Defined benefit obligation $3,200,000 Fair value of plan assets 2,300,000 Other data related to the pension plan for 2020 are: Current service cost 150,000 Contributions to the plan 204,400 Benefits paid 220,000 Actual return on plan assets 192.000 Interest (discount) rate 8% Instructions a) Calculate the defined benefit obligation on December 31, 2020. (4 marks) b) Calculate the fair value of plan assets on December 31, 2020. (4 marks) c) Calculate pension expense for 2020. (3 marks) d) Prepare the journal entries to record the pension expense and the contributions for 2020