Rico Corporation initiated a defined benefit pension plan on January 1, 2020. The plan does not provide any retroactive benefits for existing employees. The pension funding payment is made to the trustee on December 31 of each year. The following information is available for 2020 and 2021. 2020 2021 Service cost $75,000 $82,500 Funding payment contribution) 85,000 92,500 Interest on projected benefit obligation 7,500 Actual and expected return on plan assets 9,000 Financial Statement Presentation and Entries Pension Worksheet a. In its December 31, 2020, balance sheet, Rico should report what amount of net pension asset/liability? Balance Sheet December 31, 2020 Noncurrent assets Net pension asset 10,000 Noncurrent liabilities Net pension liability $ 0 b. In its December 31, 2021, balance sheet, Rico should report what amount of net pension asset/liability? Balance Sheet December 31, 2021 Noncurrent assets Net pension asset $ Noncurrent liabilities Net pension liability $ 0 0 c. Prepare the journal entries to record pension expense and plan funding for 2021. Note: List multiple debits (when applicable) in alphabetical order and list multiple credits (when applicable) in alphabetical order. Account Name Dr. Cr. Date Dec 31, 2021 0 0 0 0 0 0 To record pension expense Dec. 31, 2021 0 o o 0 To record plan funding d. Create a worksheet to summarize the pension data at the end of 2021. 0 $ 0 0 0 Reported on Reported in Reported Net in Financial Statements Balance Sheet Income Statement Plan Net Pension Pension Assets PBO Asset/Liability Cash Outflow Expense Balance, January 1, 2021 $ 0 $ 0 Service cost 0 $ 0 $ Interest cost Expected return on plan assets Contributions to fund Balance, December 31, 2021 $ 0 $ Please answer all parts of the question. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 $ 0 $ o 0