Rollo Company maintains a defined benefit pension plan with First Cranston Trust. Below

are the balances reported by First Cranston on January $1,2023.$ Planned Benefit Obligation $$675,000$

Plan Assets $$650,000$

At the beginning of $2023,$ First Cranston Trust informed Rollo that due to amending the program for

prior service for new employees, they need to deposit $$275,000.$ Other matters for $2023$ were:

The settlement rate is $8\%.$

Current service cost is $$50,000.$

Expected earnings are $8\%$ on beginning of the year Plan Assets.

Actual earnings are $$48,000.$

Prior service cost amortization is $$25,000.$

First Cranston Trust paid retirement benefits of $$35,000.$

Rollo funded the plan $$130,000.$

A$)$ Assuming a beginning debit balance of $$320,000$ in OCI Prior Service Costs and a beginning debit balance of $$45,000$

in OCI Other Gains and Losses, prepare a pension worksheet below

B$)$ Prepare the pension journal entry for the year. Dr$.$ Cr$.$