Question 10 (16 marks) Hollow Company sponsors a defined-benefit pension plan for its employees. On January 1, 2021, Hollow had the following balances related to this plan. (Credit amounts are presented in parenthesis). Plan assets on Jan 1 Defined benefit obligation on Jan 1 400,000 (550,000) During 2021, the company provided the following additional data. Service cost Actual return on plan assets Past service cost, effective Jan. 1 Contributions Benefits paid retirees Discount rate 70,000 36,000 100,500 89,000 68,000 6% Instructions (a) Compute pension expense for Hollow Company for the year 2021 by preparing a pension worksheet. (12 marks) (b) Prepare the journal entry for pension expense. (4 marks)