The following facts apply to the pension plan of Coronado Inc. for the year 2020. $534,900 534,900 8 % Plan assets, January 1, 2020 Projected benefit obligation, January 1, 2020 Settlement rate Service cost Contributions (funding) Actual and expected return on plan assets Benefits paid to retirees 40,500 23,800 53,000 31,900 Using the preceding data, compute pension expense for the year 2020. As part of your solution, prepare a pension worke shows the journal entry for pension expense for 2020 and the year-end balances in the related pension accounts. (Enter as positive) 2020 Memo Record Pension Asset Liability Projected Benefit Obligation Plan Assets