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 2021: Prior service cost at Jan. 1, 2021, from plan amendment at the beginning of 2019 (amortization: $6 million per year) Net loss-pensions at Jan.1, 2021 (previous losses exceeded previous gains) Average remaining service life of the active employee group Actuary's discount rate $50 million $60 million 10 years 8% ($ in millions) PBO Plan Assets $360 Beginning of 2021 Service cost Interest cost, 8% Loss (gain) on PBO Less: Retiree benefits End of 2021 $500 66 40 (4) (52) $550 Beginning of 2021 Return on plan assets, 7.5% (10% expected) Cash contributions Less: Retiree benefits End of 2021 27 65 (52) $400 Required: 1-a. Determine Lakeside's pension expense for 2021. 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