Rev Corporation has a defined benefit pension plan. On December 31, 2016, they reported the following pension related data.

Projected Benefit Obligation

Balance, January 1, 2016 960

Service Cost 164

Interest Cost 48

Gain due to actuarial assumptions (20)

Pension benefits paid(80)

Plan Assets

Balance, January 1, 2016 1,000

Actual Return on Plan Assets 80

(Expected Return on Plan Assets) (90)

Cash Contributions 140

Pension benefits paid(80)

January 1 2016 Balances

Prior Service Cost (amortization $16 a year), 96

Net Gain (any amortization over 15 years) 160

Please prepare the journal entries to record pension funding and the payment of benefits for 2016. Then prepare the journal entries to record any 2016 gains and losses. Then determine the net pension asset or liability at December 31, 2016.