The following facts apply to the pension plan of Cheyenne 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.)

CHEYENNE INC. Pension Worksheet-2020 General Journal Entries Pension Asset/ Cash Liability Memo Record Projected Benefit Obligation Annual Pension Expense plan Assets Items Balance, January 1, 2020 Service cost Interest cost Actual return Contributions Benefits Journal entry, December 31 s Balance, December 31, 2020