Problenm 20-12 Novak Corp. sponsors a defined benefit penslon plan for Its employees. On January 1, 2018, the following balances related to this plan Plan assets (market-related value) Projected benefit obligation Pension asset/liability Prior service cost 5274,700 343,400 68,700 Cr 39,300 As a resut of the aperation of the plan during 2018, the actuary pravided the following additional data far 2018 Service cast Actual retum on plan assets Amartization of prior service cost Contnbutions Beneits paid retirees Settlement rate Expected return on plan assets Average remaining service lfe of active employees $45,000 27,300 11,700 5,400 41,900 7%. 8% 0 years Annual Pension Expense oCI-Prior Service Cost OCI-Gain/ Loss Pension Asset Liability Projected Benefit Obligation Plan Assets Cash Balance, Jan. 1, 2018 6870 343400lcr,T 274700 Dr. Service cost 45000Dr. 45000l Cr. Interest cost 24038 Dr. 24039l Cr. Actual return 27300 Cr. 273 Dr. Unexpected galn 5324 Dr. 5324 Cr. Amortization of PSC 11700Dr. 11700lCr. T Amortization of oss 296 Cr. 65400 Dr. Benefits 41900 Dr. 41900 Cr. T Journal entry for 2018 Accumulated OCI, Dec. 31, 2017 Balance, Dec. 31, 2018 59158 Dr. 65400 Cr. 11700Cr. 572 :r. 23662 Dr. T 89900 Dr. T 33300 Or. v 78200 Dr. 32580 45038 Cr. 370539 Cr. 325500 Dr. Your answer is partially correct. Try again. ndicate the pension amounts reported In the financial statements. Novak Corp. Income Statement (Partial) For the Year Ended December 31, 2018 T Total Expenses Pensian Expense 59158 Novak Corp For the Year Ended December 31, 2018 Net Income / (Loss) Other Comprehensive Income (Loss) Asset Galn (Loss) 5324 Amortization of Loss 396 Prior Service Cost Amortization 11700 17420 e Income (Loss) Novak Corp. Partial Balance Sheet December 31, 2018 32680 32680 Click if you would like to Show Work for this question Open ShOw Wark