The accountant for Neeman Corporation has developed the following information for the company's defined benefit pension plan for 2016:

Service cost $800,000

Actual return on plan assets 420,000

Annual contribution to the plan 404,000

Amortization of unrecognized prior service cost 168,000

Benefits paid to retirees 69,000

Settlement rate 10%

Expected rate of return on plan assets 8%

The beginning balances at 1/1/2016 of some of the memo accounts are:

Projected Benefit Obligation: ($6,000,000)

Plan Assets: $4,400,000

Unrecognized Prior Service Costs: $1,000,000

REQUIRED: (a) Using the above information for Neeman Corporation, complete a pension work sheet for 2016. Indicate (credit) entries by parentheses. Calculated amounts should be supported. (b) Prepare the journal entries to reflect the accounting for the company's pension plan for the year ending December 31, 2016.