1. Rollo Company maintains a defined benefit pension with First Hartford Trust. Below are the balances reported by First Hartford on January 1, 2019:

Plan Benefit Obligation $520,000 Plan Assets $650,000

At the beginning of 2019, First Hartford informed Rollo that due to amending the program for prior service for new employees, they need to deposit an additional $180,000. Other matters for 2019 are:

The settlement rate is 10%. The current service cost is $40,000. Expected earnings are 10% on beginning plan assets. Actual earnings are $62,000. There is an expected loss. Prior service cost amortization is $25,000. First Hartford Trust paid retirement benefits of $35,000. Rollo funded the plan $120,000.

1. Prepare a pension worksheet below: Dr. Cr.
2. Prepare the pension expense entry. Dr. Cr.