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Skysong Enterprises provides the following information relative to its defined benefit pension plan. Balances or Values at December 31, 2020 $2,763,600 Projected benefit obligation Accumulated
Skysong Enterprises provides the following information relative to its defined benefit pension plan. Balances or Values at December 31, 2020 $2,763,600 Projected benefit obligation Accumulated benefit obligation 1,991,900 Fair value of plan assets 2,298,100 Accumulated OCI (PSC) 211,900 Accumulated OCI-Net loss (1/1/20 balance, 0) 45,300 Pension liability 465,500 Other pension plan data for 2020: Service cost $94,300 Prior service cost amortization 42,100 Actual return on plan assets 129,800 175,100 Expected return on plan assets Interest on January 1, 2020, projected benefit obligation 252,600 Contributions to plan 92,400 Benefits paid 139,100 Prepare the note disclosing the components of pension expense for the year 2020. (Enter amounts that reduce pension expense with either a negative sign preceding the number e.g. -45 or parenthesis e.g. (45).) Components of Pension Expense Service Cost $ 94300 Interest Cost Expected Return on Plan Assets - 175100 Prior Service Cost Amortization 42100 Pension Expense $ Determine the amounts of other comprehensive income and comprehensive income for 2020. Net income for 2020 is $34,900. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Other comprehensive income (loss) $ $ Comprehensive income (loss) $ $
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