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 2018:

Prior service cost at Jan. 1, 2018, from plan amendment at the beginning of 2016 (amortization: $7 million per year)	$	52	million
Net losspensions at Jan.1, 2018 (previous losses exceeded previous gains)	$	65	million
Average remaining service life of the active employee group		10	years
Actuarys discount rate		8	%

($ in millions)

	PBO				Plan Assets
Beginning of 2018	$	550		Beginning of 2018		$	400
Service cost		68		Return on plan assets,
Interest cost, 8%		44		7.5% (10% expected)			30
Loss (gain) on PBO		(3	)	Cash contributions			79
Less: Retiree benefits		(59	)	Less: Retiree benefits			(59	)
End of 2018	$	600		End of 2018		$	450

Required: 1-a. Determine Lakesides pension expense for 2018. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

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? (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).)

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