PREPARE THE ACTUAL PENSION WORKSHEET, IF A PENSION WORKSHEET IS NOT INCLUDED IN THE ANSWER, I WILL DOWNVOTE!!!! At the end of $2022,$ the balances in the accounts related to the defined benefit pension plan of the Bishop Company were as follows:

Projected benefit obligation $990,000$

Unrecognized prior service cost $($remainder to be amortized over $12$ years$)82,500$

Unrecognized net loss $144,000$

Plan assets $($at fair value$)785,625$

On $1/1/23,$ Bishop amended the plan to provide an increased amount of pension benefits; the prior service cost resulting from this

amendment was $$52,000.$ At $1/1/23,$ the average remaining service life of employees expected to receive benefits was $12$ years.

The following information relates to the year $2023$:

Service Cost $131,625$

Settlement rate $6\%$

Expected rate of return on plan assets $5\%$

Plan contribution $($at year$-$end$)118,500$

Benefit payments to retirees $($at year$-$end$)101,250$

In $2023,$ Bishop$$s actual return on plan assets was $$48,000.$ Bishop follows a policy of recognizing gains$/$losses on a delayed basis

using the "corridor approach". At the end of $2023,$ there was one change in the estimates and assumptions relating to computation of the

projected benefit obligation, resulting in an increase in the PBO of $$29,000.$

Required:

a$.$ Prepare Bishop$$s pension worksheet, and prepare the journal entry that Bishop would make to record the expense calculated.

b$.$ Which items will be reported on the financial statements for $2023$ and where will they be reported?

c$.$ Prepare the pension note required for the $12/31/23$ financial statements.