Sheridan Inc. has sponsored a noncontributory, defined benefit pension plan for its employees since 1997. Prior to 2020, cumulative net pension expense recognized equaled cumulative contributions to the plan. Other relevant information about the pension plan on January 1, 2020, is as follows.

1.		The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 12 years.
2.		The projected benefit obligation amounted to $4,903,000 and the fair value of pension plan assets was $2,946,000. The market-related asset value was also $2,946,000. Unrecognized prior service cost was $1,957,000.

On December 31, 2020, the projected benefit obligation and the accumulated benefit obligation were $4,936,000 and $4,081,000, respectively. The fair value of the pension plan assets amounted to $4,048,000 at the end of the year. A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan. The present value of benefits attributed by the pension benefit formula to employee service in 2020 amounted to $201,000. The employers contribution to the plan assets amounted to $761,000 in 2020. This problem assumes no payment of pension benefits.

Prepare a schedule, based on the average remaining life per employee, showing the prior service cost that would be amortized as a component of pension expense for 2020 2021 and 2022. Round answers to decimal places. Es 2525.) Prior Service Cost Amartition 2020 5 2020 $ 2022 5 eTextbook and Media List of Accounts Compute person expense for the year 2020. Round anders to decimal placesy 2.525) Pension expenses Textbook and Media List of Accounts Compute the amount of the 2020 increasc decrease in net gains ar lossis and the amount to be amortized in 2020 and 2021. Round answers to decimal places 2,525.1 Netgan 12/31/20 $ Amortization in 2020 $ Amortization in 2021 $ Textbook ww Media List of Accounts Prepare the journal entries required to report the accounting for the company's person plan for 2020. Round answers to decimal places. e. 2.525. Credit account titles are automaticaly Indented when amount is entered Do not indent manual no entry is required, select "No Entry for the accountles and entero far the amounts Account Titles and Explanation