Problem 121 The accountant for Marlin Corporation has developed the following information for the company's defined-benefit pension plan for 2018: Service cost Actual return on plan assets Annual contribution to the plan Amortization of prior service cost Benefits paid to retirees Settlement rate Expected rate of return on plan assets $460,000 234,000 904,000 123,400 52,000 10% 8% The accumulated benefit obligation at December 31, 2018, amounted to $3,170,000. Using the above information for Marlin Corporation, complete the pension work sheet for 2018. CALCULATOR STANDARD VIEW PRINTER VERSION Using the above information for Marlin Corporation, complete the pension work sheet for 2018. Marlin Corporation Pension Work Sheet-2018 Annual Pension Expense General Journal Entries OCI-Prior Service Cost OCI - Gain/ Loss Memo Entries Projected Benefit Obligation Pension Asset/ Liability Plan Assets Cash Balance, Dec. 31, 2017 617,000 3,920,000 2,710,000 Service cost Dr. V 460,000 > Interest cost v Actual return > Unexpected gain/loss Amortization of PSC Dr. 123,400 -123,400 Cr. V Contributions Benefits 52,000 Dr. V -52,000 Cr. V Gain/loss Amortization Journal entry for 2018 Dr. V -123,400 Accumulated OCI, 12/31/17 Cr. 617,000 Balance, Dec. 31, 2018 493,600 Cr. V Prepare the journal entry to reflect the accounting for the company's pension plan for the year ending December 31, 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31, 2018 Pension Expense Pension Asset/Liability Other Comprehensive Income (G/L) Cash Other Comprehensive Income (PSC) Click if you would like to Show Work for this question: Open Show Work