Problem #2: Pension Accounting Valdivia Company provides the following information about its defined benefit pension plan for 2012. Service cost $ 78,000 Contribution to the plan 98,000 Prior service cost amortization 16,000 Actual and expected return on plan assets 84,000 Benefits paid 60,000 Plan assets at January 1, 2012 750,000 Projected benefit obligation at January 1, 2012 900,000 Accumulated OCI (PSC) at December 31, 2011 180,000 Interest/discount (settlement) rate 10% a) Prepare a pension worksheet and answer the following questions: Pension Worksheet Meme Record Pension IN Cash PSC Pension Projected Benefit Asset Liability II Obligation Plan Assets (150.000 (90000 750,000 Balance 01/01/2012 Service Cost Interest Cost As Retur II Amort Or PSC Contributions Benefits Paid Liability Cain Journal Entry AOCI. 13/11 Der Blut 2012 II b) Complete the journal entry for 2012: DR CR Journal Entry: Pension Expense Pension Asset Liability Other Comprehensive Income PSC Cash