Sunland Corporation is a privately owned company that uses ASPE. On January 1, 2020 Sunland's financial records indicated the following information related to the company's defined benefit pension plan: Defined Benefit Obligation $1,370,000 Pension Plan Assets 1,520,000 Sunland Corporation's actuary provided the following information on December 31, 2020: Current year service cost $86,000 Prior service cost, granted Jan 1, 2020 177,000 Employer contributions for the year 91,000 Benefits paid to retirees 27,000 Expected return on assets 5% Act return on assets 6% Discount rate 5% Prepare a pension worksheet for Sunland Corporation for 2020. General Journal Er Annual Pension Expense Cash Balance, January 1, 2020 Current Service Cost Dr. V Past Service Cost Dr. V Net Interest/Finance Cost Dr. Asset Remeasurement Gain/Loss Cr. Employer Contributions to Pension Fund Benefits Paid to Retirees from Pension Fund i Pension Expense Entry - 2020 Dr. Net Funding Entry Balance, December 31, 2020 Prepare a pension worksheet for Sunland Corporation for 2020. !S Memo Record Net Defined Liability/ Asset Defined Benefit Obligation Plan Dr. Cr. i Cr. i Cr. i Cr. i i Cr. i i i Dr. Cr. Cr. Dr. i Cr. Cr. Prepare a pension worksheet for Sunland Corporation for 2020. Memo Record Net Defined Liability/ Asset Defined Benefit Obligation Plan Assets Dr. Cr. Dr. i Cr. i i Cr. V i i > Cr. Dr. i Dr. i Dr. i Dr. Cr. Cr i Dr. i Cr. Cr. Dr. Prepare pension plan journal entries for Sunland Corporation for 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit Pension Expense Net Retirement Benefit Liability/Asset (To record pension expense) Net Defined Benefit Liability or Asset Cash (To record payment to the pension fund) What is the funded status for Sunland Corporation at December 31, 2020? Sunland's pension plan is underfunded by $ on December 31, 2020. e Textbook and Media List of Accounts