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:

Defined benefit obligation Jan 1st260000

fair value of plan asset jan 1st200000

current serves costs 40000

actual return on plan assets15000

contribution(made at end of the year)30000

benefit paid to retirees60000

interest (discount) rate6%

past service cost (as of jan 1)4000

Instructions

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.

This is all the information been given