Problem 13-10 Past service cost; calculate defined benefit expense; journal entries; determine net defined benefit asset or liability [LO13-5, 13-6, 13-7] Electronic Distribution has a defined benefit pension plan. Characteristics of the plan during 2021 are as follows: ($ millions) DBO balance, January 1 $ 480 Plan assets balance, January 1 300 Service cost 75 Interest cost 45 Gain from change in actuarial assumption Benefits paid Actual return on plan assets Contributions 2021 22 80 At the end of 2021, the company amended the plan formula creating a past service cost of $12 million, two-thirds of which is related to employees whose pension benefits have vested. Required: 1. Calculate the defined benefit expense for 2021. 2. Prepare the journal entry to record defined benefit expense, gains or losses in other comprehensive income, funding, and payment of benefits for 2021. 3. What amount will Electronic Distribution report in its 2021 statement of financial position as a net defined benefit asset or net pension liability