Sheridan Limited sponsors a defined benefit pension plan for its employees, which it accounts for under ASPE. The following data relate to the operation of the plan for the year 2023: 1. 2. 3. 4. The actuarial present value of future benefits earned by employees for services rendered in 2023 amounted to $55,700. The company's funding policy requires a contribution to the pension trustee of $145,250 for 2023. As at January 1, 2023, the company had a defined benefit obligation for accounting purposes of $966,000. The fair value of pension plan assets was $610,000 at the beginning of the year. The actual return on plan assets was $53,000, and the discount rate was 9%. No benefits were paid in 2023. 1)Determine the pension expense that should be recognized by the company in 2023. 2)Prepare the journal entries to record pension expense and the employer's payment to the pension trustee in 2023 3)Determine the plan's surplus or deficit position and the balance of the Net Defined Benefit Liability/Asset account at January 1, 2023, and at December 31, 2023. 4)Prepare a pension work sheet for this plan for the year, including all related entries that would be required.