The following facts apply to the pension plan of Bridgeport Inc. for the year 2020. Plan assets, January 1, 2020 $501,700 Projected benefit obligation, January 1, 2020 501,700 Settlement rate 8 % Service cost 43,600 Contributions (funding) 25,400 Actual and expected return on plan assets 52.100 Benefits paid to retirees 33,600 Using the preceding data, compute pension expense for the year 2020. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense for 2020 and the year-end balances in the related pension accounts. (Enter all amounts as positive.) Items Balance, January 1, 2020 $ Service cost Interest cost Actual return Contributions Annual Pension Expense $ Benefits Journal entry, December 31 $ $ Balance, December 31, 20200 General Journal Entries Cash BRIDGEPORT Pension Workshe Using the preceding data, compute pension expense for the year 2020. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense for 2020 and the year-end balances in the related pension accounts. (Enter all amounts as positive.) GEPORT INC. Worksheet-2020 $ Memo Record Pension Asset/ Liability Projected Benefit Obligation Plan Assets