Review 8, CH, 20 Gordon Company sponsors a defined benefit pension plan corporation's actuary provides the following information plan. about the Jan. 1 2017 Dec. 31 2017 In millions $2,500 2,900o Projected benefit obligation Plan assets (fair value) Pension asset/liability Prior service cost, January 1 Accumulated pension loss $1,700 $2,420 $480 230 $800 250 280 400 20 $700 $250 10% Service cost for the year 2017 Amortization of prior service cost Contributions (funding in 2017) Benefit paid in 2017 Settlement rate and expected return The average remaining service life of the active employee group is 1 years. Gordon uses the straight-line method for the amortization. Assume that there are no changes in actuarial assumptions. In othe words, liability gains/losses are zero in 2017. mpute the actual return and unexpected gains and losses on the plan assets in 2017 Actual return (Plan Asset Ending Balance Plan Asset Beginning Balance) - Contribution + Benefits Paid b) Compute the amount of net gain or loss amortization for 2017 (Corridor approach) Amount Amortization (in millions) Projected benefit obligation Beg. Bal Plan assets Beg. Bal Corridor percentage Corridor amount Accumulated pension loss, Beg. Bal Excess loss subject to amortization Average remaining service period Amortized to pension expense