Presented below is information related to Ivanhoe Department Stores, Inc. pension plan for 2019.

Accumulated benefit obligation (at year-end)		$530,000
Service cost		470,000
Funding contribution for 2019		410,000
Settlement rate used in actuarial computation		9%
Expected return on plan assets		8%
Amortization of PSC (due to benefit increase)		93,000
Amortization of net gains		41,000
Projected benefit obligation (at beginning of period)		400,000
Fair value of plan assets (at beginning of period)		290,000

Compute the amount of pension expense to be reported for 2019 Prepare the journal entry to record pension expense and the employer's contribution for 2019