Question 3

At the beginning of the current year, a pension has assets of $58,600,000 and accrued benefit obligation of $69,500,000. During the year, the sponsor recorded $3,100,000 in pension expense and contributed $4,000,000 to the pension plan. At the end of the year, the plan assets had fair value of $55,400,000 while the plan obligations had a present value of $64,000,000. (6 marks)

Required:

Compute the amount of other comprehensive income relating to the pension plan for the year.Show your work for full marks.