Refer to the situation described in p 17-10 Assume Electronic Distribution prepares its financial statements according to IFRA. Also, assume that 10% is the current interest rate on high-quality corporate bonds.

1. What amount will Electronic Distribution report in its 2021 balance sheet as a net pension asset or net pension liability?

p 17-10

	$ in millions
PBO balance January 1	480
Plan assets balance January 1	300
Service cost	75
Interest cost	45
Gain from change in an actuarial assumption	22
Benefits paid	(36)
Actual return on plan assets	20
Contributions 2021	60