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Sherman Co. has a defined benefit plan for its employees and reports the following data as of the end of 2020: Projected Benefit Obligation $1,450,000

Sherman Co. has a defined benefit plan for its employees and reports the following data as of the end of 2020:

Projected Benefit Obligation $1,450,000

Accumulated Benefit Obligation $1,250,000

Plan Assets at Fair Value $1,300,000

Pension Expense $275,000

Retiree Benefits Paid $180,000

What funding status would Sherman report in its December 31,2020 Balance Sheet?

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