Ridley Corporation is a manufacturing company in the Caribbean. The company sponsors a defined benefit pension plan for its employees. The following balances relate to the plan on January 1, 2020. (amounts in thousands).

Defined benefit obligation Plan assets (market-related value) Pension asset/liability OCILoss

$340,000 $270,000 $ 70,000 Cr $ 39,000

On December 31, 2020, the actuary provided the following additional data as a result of the operation of the plan during the year.

Actual return on plan assets Service cost Benefits paid retirees Contributions Discount (interest) rate

$27,000 $45,000 $41,000 $65,000 7%

Instructions. (a) Prepare a 2020 pension worksheet with supplementary schedules.

(b) Determine the amounts of the components of pension expense that should be recognized by the company in 2020.