Summit Corporation, a chain of tourism-based businesses, sponsors a defined benefit pension plan for its employees. Summit follows IFRS. The plans trustee reports the following information for calendar 2020:

DBO, Jan 1 $260,000

Fair value of plan assets, Jan 1 200,000

Current service cost 40,000

Actual return on plan assets 15,000

Contributions (made at the end of the year) 30,000

benefits paid to retirees 60,000

interest rate (discount rate) 6%

Past service cost (as of jan 1) 4,000

1. Fill in the pension spreadsheet below.

	Remeasurement gain/loss	Pension expense	Cash	Net defined benefit liab/asset	DBO	Plan assets
					260,000	200,000
Current service cost
Past service costs
Interest cost
Expected return
Remeasurement gain/loss
Cash paid
Benefits paid

2. Provide the following figures:

   Pension expense for 2020

   DBO ending balance

   Plan assets ending balance

   Net defined benefit liability/asset ending balance

   Remeasurement gain/loss ending balance

3. Prepare the pension-related journal entries for 2020.