The following defined pension data of Metcalf Corp. apply to the year 2020 . Projected benefit obligation, 1/1/20 (before amendment) Plan assets, 1/1/20 Pension liability On January 1, 2020, Metcalf Corp., through plan amendment, grants prior service benefits having a present value of Settlement rate and expected rate of return Accumulated OCl - net (gain) or loss Dec. 31, 2019 Service cost Contributions (funding) Actual return on plan assets Benefits paid to retirees Prior Service Cost amortization for 2020 Average service life of all employees \begin{tabular}{|r|} \hline$560,000 \\ \hline 546,200 \\ \hline 13,800 \\ \hline 120,000 \\ \hline 9% \\ \hline 74,000 \\ \hline 58,000 \\ \hline 65,000 \\ \hline 52,280 \\ \hline 40,000 \\ \hline 17,000 \\ \hline 12 years \\ \hline \end{tabular} Instructions: For 2020, prepare a pension worksheet for Metcalf Corp. that shows the journal entry for pension expense and the year-end balances in the related pension accounts. METCALF CORP. Pension Worksheet 2020