The following facts apply to the pension plan of Tamarisk 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 $499,800 499,800 8 % 38,000 25,500 48,900 31,300 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.) TAMARISK Pension Workshe General Journal Entries Annual Pension Expense Items Cash Balance, January 1, 2020 $ > $ $ Service cost V Interest cost Actual return V Contributions Benefits Journal entry, December 31 $ $ Balance, December 31, 2020 MARISK INC. Worksheet-2020 Memo Record Pension Asset/ Liability Projected Benefit Obligation Plan Assets $ $ > >