The following facts apply to the pension plan of Indigo Inc. for the year 2020. 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 $476,200 476,200 8 % 39,700 26,000 44,900 31,700 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.) INDIGO INC Pension Worksheet-2020 General Journal Entries Memo Record Annual Pension Expense Items Cash Pension Asset/ Liability Projected Benefit Obligation Plan Assets Balance, January 1, 2020 $ $ $ Service cost Interest cost Actual return Contributions Benefits Journal entry, December 31 $ Balance, December 31, 2020