Problem 20-12 Novak Corp, sponsors a defined benefit pension plan for its employees. On January 1, 2018, the following balances related to this plan Plan assets (market-related value) Projected benefit obligation Penslon asset/llability Prior service cost ocI-Loss 274,70D 343,400 68,700 Cr. 89,900 38,300 As a resuit of the operation of the plan during 2018, the actuary provided the following additional data for 2018 Service cost Actual return on plan assets Amortization of prior service cost Contributions Beneflts pald retlrees Settlement rate Expected return on plan assets Average rema ning service life of active employees $45,000 27,300 11,700 65,400 41,900 7% 10 years Compute pension expense for Novak Corp. for the year 2018 by preparing a pension worksheet that shows the journal entry for pension expense. (Enter all amounts as positive.) NOVAK CORP Pension Worksheet-2018 Ge Entries Annual Penslon OCI-Prior OCI- Gain/ Pension Asset/ Projected Benefit Plan Balance, Jan. 1, 2018 Service cost Interest cost Actual retum Unexpected gain Amortization of PSC Amortization of loss Contributions Benefits ournal entry for 2018 Accumulated OCI, Dec. 31, 2017 Balance, Dec. 31, 2018 Indlcate the penslon amounts reported In the financlal statements. Novak Corp. Income Statement (Partial) Novak Corp