Problem 20-1 On January 1, 2017, Marin Company has the following defined benefit pension plan balances. Projected benefit obligation Fair value of plan assets Te interest (settlement) rate applicable to the plan is 10%. On January 1, 2018, the company amends its pension agreement so that prior service costs of503,000 are created. Other data related to the pension plan are as follows. $4,460,000 4,150,000 2018 $150,000 S182,000 92,000 2017 Service cost Prio r service cast Contributions (funding) to the plan Benefits paid Actual return on plan assets Expected rate of return on assets 243,000279,000 199,000 249,000 278,000 257,000 6% 8% Your answer is partially correct. Try again Prepare a pension worksheet for the pension plan for 2017 and 2018. (Enter all amounts as positive.) MARIN COMPANY Pension Worksheet-2017 and 2018 Annual Pension Expense OCI-Prior Service Cost oCI-Gain/ Loss Pension Asset/ Liability Projected Benefit Obligation Plan Assets Items Balance, Jan. 1, 2017 Service cost Interest cost Cash Cr Dr Dr. Dr. Actual return Cr # Dr. Contributions Cr # Benefits Dr. Cr. ournal entry for 2017 Accumulated OCI, Dec. 31, 2016 Balance, Dec. 31, 2017 Additional PSC, 1/1/2018 Balance, Jan. 1, 2018 Service cost Dr. Cr. Cr. Dr. Dr Cr. Cr. Interest cost Dr. Actual return Cr. Dr. Unexpected loss Cr. Amortization of PSC Dr. Cr # Contributions Benefits Dr. Dr. Cr. Journal entry for 2018 Accumulated OCI, Dec. 31, 2017 Balance, Dec. 31, 2018 Cr# Dr. + Dr. Dr. Cr. Cr. Dr. Your answer is partially correct. Try again. For 2018, prepare the journal entry to record pension-related amounts, (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, selet "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Pension Expense Debit Credit Income( er Comprehensive Income (G/L sian AssetyLiability