The following facts apply to the pension plan of Carla Vista Inc. for the year 2025 .

Plan assets , January 1, 2025 $ 515,100

Projected benefit obligation , January 12025 515,100

Settlement rate 8 %

Service cost 36,800

Contributions ( funding ) 26,700

Actual and expected return on plan assets 50,200

Benefits paid to retirees 36,700

Using this data , compute pension expense for the year 2025. As part of your solution , prepare a pension worksheet that shows the journal entry for pension expense for 2025 and the year -end balances in the related pension accounts .