"Problem 20-1 On January 1, 2017, Pina Company has the following defined benefit pension plan balances Projected benefit obligation Fair value of plan assets $4,441,000 4,230,000 The interest (settlement) rate applicable to the plan is 10%. On January 1, 2018, the company amends its pension agreement so that prior service costs of $495,000 are created. Other data related to the pension plan are as follows. 2017 Service cost Prior service cost amortization Contributions (funding) to the plan Benefits paid Actual return on plan assets Expected rate of return on assets 2018 $179,000 89,000 290,000 276,000 254,000 $150,000 240,000 196,000 253,800 6 96 8% Prepare a pension worksheet for the pension plan for 2017 and 2018. (Enter all amounts as positive.) PINA COMPANY Pension Worksheet-2017 and 2018 eneral Journal Entries Annual Pension Expense OCI-Prior Service Cost oCI-Gain/ 055 Pension Asset/ Liability Projected Benefit obligation plan Assets Cash Items Balance, Jan. 1, 2017 Service cost Interest cost Actual return Benefits Journal entry for 2017 Accumulated Balance, Dec. 31, 2017 Additional PSC, 1/1/2018 Balance, Jan. 1, 2018 Service cost Interest cost Actual return Unexpected loss OCI, Dec. 31,2016 Amortization of PSc Contributions Benefits Journal entry for 2018 Accumulated OCI, Dec. 31, 2017 Balance, Dec. 31, 2018 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, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit Question Attempts: 0 of 3 used