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Prepare a pension spreadsheet that shows the relationships among the various pension balances, shows the changes in those balances, and computes pension expense for 2016.

image text in transcribedPrepare a pension spreadsheet that shows the relationships among the various pension balances, shows the changes in those balances, and computes pension expense for 2016. (Negative amounts should be indicated with a minus sign. Enter your answers in thousands (i.e. 200,000 should be entered as 200).)

The following pension-related data pertain to Metro Recreation's noncontributory, defined benefit pension plan for 2016:

PLEASE JUST FILL IN THE CHART. DO NOT MAKE IT CONFUSING!!!

The following pension-related data pertain to Metro Recreation's noncontributory, defined benefit pension plan for 2016 ($ in 000s) Jan. 1 Dec. 31 $5,400 $5,680 3,7804,080 6,480 6,925 Projected benefit obligation Accumulated benefit obligation Plan assets (fair value) Interest (discount) rate, 7% Expected return on plan assets, 10% Prior service cost-AOCI (from Dec. 31, 2015, amendment) Net loss-AOCI Average remaining service life: 10 years Gain due to changes in actuarial assumptions Contributions to pension fund (end of year) Pension benefits paid (end of year) 970 668 64 470 425 Required: Prepare a pension spreadsheet that shows the relationships among the various pension balances, shows the changes in those balances, and computes pension expense for 2016. (Negative amounts should be indicated with a minus sign. Enter your answers in thousands (i.e. 200,000 should be entered as 200).) Net Pension Prior Service Net Loss- Pension Plan Assets Cost-AOC (Liability) / Asset ($ in 000s) PBO Cash AOCI Expense Balance, Jan. 1, 2016 Service cost Interest cost Expected return on assets Adjust for: Loss on assets Amortization of Prior service cost Net loss Gain on PBO Cash funding Retiree benefits Bal., Dec. 31, 2016

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