The following balances were reported in a company's financial statements and disclosure notes at December 31, 2020.

Projected benefit obligation	$320,000
Plan assets	430,000

The company's actuary determined that 2021 service cost is $63,000. The actual rate of return on plan assets is 10%. The interest (discount) rate is 5%. At the end of 2021, the company contributed $123,000 to the pension fund, and retirees were paid $47,000. Required:

1. What is the projected benefit obligation at the end of 2021?
2. What is the plan assets balance at the end of 2021?
3. What is the net pension asset or net pension liability at the end of 2021?

		December 31, 2021
1.	Projected benefit obligation
2.	Plan assets
3.