Problem 20-5 Buffalo Toothpaste Company initiates a defined benefit pension plan for its 50 employees on January 1, 2017. The insurance company which administers the pension plan provided the following selected information for the years 2017, 2018, and 2019. For Year Ended December 31, 2017 2018 2019 Plan assets (fair value) $50,000 $84,700 $179,270 Accumulated benefit obligation 45,500 165,000 294,300 Projected benefit obligation 60,000 322,900 199,600 78,600 81,445 Net (gain) loss (for purposes of corridor calculation) 0 Employer's funding contribution (made at end of year) 104,800 50,000 60,000 There were no balances as of January 1, 2017, when the plan was initiated. The actual and expected return on plan assets was 10% over the 3-year period, but the settlement rate used to discount the company's pension obligation was 13% in 2017, 11% in 2018, and 8% in 2019. The service cost component of net periodic pension expense amounted to the following: 2017, $60,000; 2018, $84,700; and 2019, $118,300. The average remaining service life per employee is 12 years. No benefits were paid in 2017, $30,300 of benefits were paid in 2018, and $18,700 of benefits were paid in 2019 (all benefits paid at end of year). Your answer is partially correct. Try again Calculate the amount of net periodic pension expense that the company would recognize in 2017, 2018, and 2019. (Round answers to 0 decimal places, e.g. 2,525.) 60000 Pension expense for 2017 Pension expense for 2018 86300 Pension expense for 2019 124285