Question 7 On January 1, 2021, Sheridan Co. has the following balances: Projected benefit obligation $4900000 Fair value of plan assets 4300000 The settlement rate is 9%. Other data related to the pension plan for 2021 are: Service cost Amortization of prior service costs Contributions Benefits paid Actual return on plan assets Amortization of net gain $313000 68500 353000 328000 345000 23300 The balance of the projected benefit obligation at December 31, 2021 is $5654000 $5326000. $5162500. $5341000. Click if you would like to Show Work for this question: Open Show Work