Return to question On January 1, 2017, East Corporation adopted a defined benefit pension plan. At plan inception, the prior service cost was $60,000. In 2017, East incurred service cost of $150,000 and amortized $12,000 of prior service cost. On December 31, 2017, East contributed $160,000 to the pension plan. East assumes a 6% discount rate and 5% expected rate of return. 2.5 points Required: At December 31, 2017, what amounts should East report as a pension asset (liability) and AOCI on its balance sheet? (A net pension liability should be indicated with by minus sign.) X Answer is complete but not entirely correct. Pension asset (liability) at 12/31/17 AOCI - 12/31/17 S (56,600) $ 48,600