Spartan Limited is a publicly traded company on the Toronto Stock Exchange. The company sponsors a defined benefit pension plan for all its employees, and the controller provides you with the following data that relate to the plan for fiscal 2019: 1. On January 1, 2019, the company's defined benefit obligation was $1,050,000, and the fair value of pension plan assets was $950,000. 2. The plan assets generated a return of $98,000 during the year, and Spartan's discount rate was 10%. 3. The current service cost is determined using a formula based on the employees payroll and was calculated to be $83,000. 4. Spartan made a cash contribution of $150,000 to the plan assets on December 31, 2019. 5. Benefits of $80,000 were paid in 2019. Assume these payments were made a year end. 6. In late December 2019, an actuarial revaluation of the defined benefit obligation establishes that the defined benefit obligation should be 1,200,000.