Required information [The following information applies to the questions displayed below.] Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2024: Prior service cost at January 1, 2024, from plan amendment at the beginning of 2022 (amortization: $6 million per year) Net loss-pensions at January 1, 2024 (previous losses exceeded previous gains) Average remaining service life of the active employee group Actuary's discount rate ($ in millions) $ 48 million $ 75 million 10 years 8% PBO Beginning of 2024 $ 450 Beginning of 2024 Service cost 61 36 Return on plan assets, 7.5% (10 % expected) Loss (gain) on PBO (2) Cash contributions (45) Less: Retiree benefits $ 500 End of 2024 Interest cost, 8% Less: Retiree benefits End of 2024 Plan Assets $360 27 58 (45) $400 Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Cable during 2025: ($ in millions) Beginning of 2025 Service cost Interest cost, 8% Loss (gain) on PBO Less: Retiree benefits End of 2025 Required: PBO $ 500 Beginning of 2025 54 40 Return on plan assets, 14% (10% expected) 5 Cash contributions (32) Less: Retiree benefits $ 567 End of 2025 1-a. Determine Lakeside's pension expense for 2024. Plan Assets $ 400 56 46 (32) $ 470 1-b. Prepare the appropriate journal entries to record the expense as well as the cash contribution to plan assets and payment of benefits to retirees. 2. Determine the new gains and/or losses in 2024 and prepare the appropriate journal entry(s) to record them. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). 3. Prepare a pension spreadsheet to assist you in determining end of 2024 balances in the PBO, plan assets, prior service cost-AOCI, the net loss-AOCI, and the pension liability. Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Enter credit amounts with a minus sign and debit amounts with a positive sign. 4-a. Determine Lakeside's pension expense for 2025. 4-b. Prepare the appropriate journal entries to record the expense, the cash funding of plan assets, and payment of benefits to retirees. 5. Determine the new gains and/or losses in 2025, and prepare the appropriate journal entry(s) to record them. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). 6. Using T-accounts, determine the balances at December 31, 2025, in the net loss-AOCI and prior service cost-AOCI. Note: Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). 7. Prepare a pension spreadsheet to assist you in determining end of 2025 balances in the PBO, plan assets, prior service costAOCI, the net loss-AOCI, and the pension liability. Note: Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). Enter credit amounts with a minus sign and debit amounts with a positive sign