Question 1 Sandhill Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2017, the f $480,000 Plan assets (market-related value) Projected benefit obligation Pension asset/lability Prior service cost Net gain or loss (debit) 650,000 170,000 Cr. 80,000 85,000 As a result of the operation of the plan during 2017, the actuary provided the following additional data for 2017 Service cost for 2017 settlement rate, 9%; expected return rate, 10% Actual return on plan assets in 2017 Amortization of prior service cost Contributions in 2017 Benefits paid retirees in 2017 Average remairing service life of active employees $99,000 42,000 25,000 124,000 82,000 10 years Using the preceding data, compute pension expense for Sandhill Corp, for the year 2017 by preparing a pension worksheet that shows the journal entry for pension expense. amounts as positive.)