Sandhill Company sponsors a defined benefit pension plan for its 600 employees. The company's actuary provided the following information about the plan December 31, January 1, 2017 2017 2018 Projected benefit obligation $2,780,000 $3,629,200 $4,170,536 Accumulated benefit obligation 2,446,000 1,910,000 2,913,000 Plan assets (fair value and market-related asset value) 1,690,000 2,887,000 3,770,000 Accumulated net (gain) or loss (for purposes of the corridor calculation) (23,000) 199,000 Discount rate (current settlement rate) 9 % 8 % Actual and expected asset return rate 10 % 10 % Contributions 1,028,000 594,300 The average remaining service life per employee is 10.5 years. The service cost component of net periodic pension expense for employee services rendered amounted to $400,000 in 2017 and $473,000 in 2018. The accumulated OCI (PSC) on January 1, 2017, was $1,459,500. No benefits have been paid. Compute the amount of accumulated OCI (PSC) to be amortized as a component of net periodic pension expense for each of the years 2017 and 2018. Amount of accumulated OCI (PSC) to be amortized for the year 2017 Amount of accumulated OCI (PSC) to be amortized for the year 2018 $ Prepare a schedule which reflects the amount of accumulated OCI (G/L) to be amortized as a component of pension expense for 2017 and 2018. Projected Benefit Obligation Plan Accumulated Minimum Amortization 10% OCI (G/L) Corridor of (Gain) Loss Year Assets 2017 $ $ $ $ 2018 Determine the total amount of pension expense to be recognized by Sandhill Company in 2017 and 2018. Pension expense for 2017 $ Pension expense for 2018 Sandhill Company sponsors a defined benefit pension plan for its 600 employees. The company's actuary provided the following information about the plan December 31, January 1, 2017 2017 2018 Projected benefit obligation $2,780,000 $3,629,200 $4,170,536 Accumulated benefit obligation 2,446,000 1,910,000 2,913,000 Plan assets (fair value and market-related asset value) 1,690,000 2,887,000 3,770,000 Accumulated net (gain) or loss (for purposes of the corridor calculation) (23,000) 199,000 Discount rate (current settlement rate) 9 % 8 % Actual and expected asset return rate 10 % 10 % Contributions 1,028,000 594,300 The average remaining service life per employee is 10.5 years. The service cost component of net periodic pension expense for employee services rendered amounted to $400,000 in 2017 and $473,000 in 2018. The accumulated OCI (PSC) on January 1, 2017, was $1,459,500. No benefits have been paid. Compute the amount of accumulated OCI (PSC) to be amortized as a component of net periodic pension expense for each of the years 2017 and 2018. Amount of accumulated OCI (PSC) to be amortized for the year 2017 Amount of accumulated OCI (PSC) to be amortized for the year 2018 $ Prepare a schedule which reflects the amount of accumulated OCI (G/L) to be amortized as a component of pension expense for 2017 and 2018. Projected Benefit Obligation Plan Accumulated Minimum Amortization 10% OCI (G/L) Corridor of (Gain) Loss Year Assets 2017 $ $ $ $ 2018 Determine the total amount of pension expense to be recognized by Sandhill Company in 2017 and 2018. Pension expense for 2017 $ Pension expense for 2018