presented below $($ $ in miltions$)$:

Information Provided by Pension Plan Actuary:

a$.$ Projected benefit obligation as of December $31,2023=$$$4,250.$

period$).$

c$.$ Service cost for $2024=$$$710$

d$.$ Service cost for $2025=$$$760.$

e$.$ Discount rate used by actuary on projected benefit obligation for $2024$ and $2025=10\%.$

f$.$ Payments to retirees in $2024=$$$570.$

g$.$ Poyments to retirees in $2025=$$$640.$

h$.$ No changes in actuarial assumptions or estimates,

Net gain$-$AOCl on January $1,2024=$$$475.$

Net gains and losses are amortized for $10$ years in $2024$ and $2025.$

Information Provided by Pension Fund Trustee:

a$.$ Plan asset balance at fair value on January $1,2024=$$$3,000.$

b$.2024$ contributions $=$$$730$

c$.2025$ contributions $=$$$780.$

d$.$ Expected long$-$term rate of return on plan assets $=12\%.$

e$.2024$ actual retum on plan assets $=$$$280.$

f$.2025$ actual return on plan assets $=$$$330.$

Required:

Calculate pension expense for $2024$ and $2025.$

Prepare the journal entries for $2024$ and $2025$ to record pension expense.

Prepare the journal entries for $2024$ and $2025$ to record any gains and losses and new prior service cost.

Prepare the journal entrles for $2024$ and $2025$ to record $($a$)$ the cash contribution to plan assets and $($b$)$ the benefit payments to

retirees.

Answer is not complete.

Complete this question by entering your answers in the tabs below.

Calculate pension expense for $2024$ and $2025.$

Note: Amounts to be deducted should be indicated with a minus sign. Do not round intermediate calculations. Enter your

answers in millions rounded to $1$ decimal place $($i$.$e$.,5,500,000$ should be entered as $5\mathrm{.}5).$

Required $2$

Prepare the journal entries for $2024$ and $2015$ to record any gains and losses and new prior service cost.

Note: Do not round intermediate calculations. If no entry is required for a transaction$/$event$,$ select $"$No journal entry

required" in the first account field. Enter your answers in millions rounded to $1$ decimal place $($i$.$e$.,5,500,000$ should be

entered as $5\mathrm{.}5).$