Scottsdale Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2017, the following balances relate to this plan.

Plan assets

$480,000

Projected benefit obligation

625,000

Accumulated OCI (PSC)

100,000 Dr.

Accumulated OCI (Gain/Loss)

85,000 Cr.

As a result of the operation of the plan during 2017, the following additional data are provided by the actuary:

Service cost for 2017

$90,000

Settlement rate

9%

Actual return on plan assets in 2017

57,000

Expected return on plan assets

10%

Unexpected loss from change in projected benefit obligation, due to change in actuarial predictions

76,000

Contributions in 2017

99,000

Benefits paid retirees in 2017

85,000

Avg. remaining service life (all employees)

12 years

1. Use the spreadsheetPensionsto pension worksheet. On the pension worksheet, compute pension expense, pension asset/liability, projected benefit obligation, plan assets, prior service cost, and net gain or loss.
2. Prepare the journal entry using the spreadsheetJournal Entriesto record pension expense in 2017.
3. Indicate the reporting of the 2017 pension amounts in the income statement and balance sheet using the spreadsheetPensions.
4. What is the amount of deferred pension gain or loss that the company will carry forward to 2018?

Compute the same items as in (#1), assuming that the expected rate of return is 14% and the Accumulated OCI (Gain/Loss) is a Debit balance at January 1, 2017.