Question Two The following information pertains to this pension plan: Plan assets: 1 January 20X6 Plan obligation: 1 January 20X6 Current service costs Contributions paid during the year Expected return on plan assets Discount rate Unrecognised actuarial loss: 1 January 20X6 Benefits paid to members during the year Plan assets: fair value at 31 December 20X6 Plan obligation present value at 31 December 20X6 300 000 400 000 100 000 200 000 105 159 35 000 100 000 400 000 500 000 Additional Information: Employees are expected to work for an average of 15 years at Cabria Limited. The interest rate used to measure the present value of defined benefits at 1 January 2016 was 8.596 The interest rate used to measure the present value of defined benefits at 31 December 2016 was 9% Asset ceiling for 2016 was $75,000. All the contributions received by the plan were paid by the employer. Employees make no contributions Required: 6. Determine the surplus or deficit of defined benefit plan at 31 December 2016 7. Determine the net defined benefit asset or liability that should be recognized at 31 December 2016 8. Calculate the net interest for 2016. 9. Calculate the actuarial gain or loss for the defined benefit obligation for 2016. 10. Calculate the return on plan assets, excluding any amount recognized in net interest for 2016