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Sage Company sponsors a defined benefit pension plan for its employees. The following data relate to the operation of the plan for the year 2017

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Sage Company sponsors a defined benefit pension plan for its employees. The following data relate to the operation of the plan for the year 2017 in which no benefits were paid 1. The actuarial present value of future benefits earned by employees for services rendered in 2017 amounted to $56,300. 2. The company's funding policy requires a contribution to the pension trustee amounting to $144,770 for 2017 3. As of January 1, 2017, the company had a projected benefit obligation of $903,000, an accumulated benefit obligation of $796,500, and a debit balance of $798,000 in accumulated OC (PSC). The fair value of pension plan assets amounted to $595,000 at the beginning of the year. The actual and expected return on plan assets was $54,000 The settlement rate was 99%. No gains or losses occurred in 2017 and no benefits were paid 4. Amortization of prior service cost was $49,900 in 2017. Amhetization of net gain or loss was not required in 2017. Determine the amounts of the components of pension expense that should be recognised by the company in 2017. (Enter amounts that reduce pension expense with either a negative sig preceding the number 45 or parenthesis (45).) Components of Pension Expense Prepare the journal entry or entries to record pension expense and the employer's contribution to the pension trustee in 2017. (Credit account til when amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter o for the Account Titles and Explanation Debit Credit LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT Indicate the pension-related amounts that would be reported on the income statement and the balance sheet for Sage Company for the year 2017, Sage Company Income Statement (Partial) Indicate the pension-related amounts that would be reported on the income statement and the balance sheet for Sage Company for the year 2017. Sage Company Income Statement (Partial) Sage Company Comprehensive Income Statement Sage Company Balance Sheet (Partial) $XXXX $XXXX Sage Company Balance Sheet (Partial)

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