The following facts apply to the pension plan of Teal plc for the year 2022.

Plan assets, January 1, 2022		505,500
Defined benefit obligation, January 1, 2022		505,500
Discount (interest) rate		8	%
Service cost		38,400
Contributions (funding)		26,100
Actual return on plan assets		40,440
Benefits paid to retirees		33,700

Using the preceding data, compute pension expense for the year 2022. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense for 2022 and the year-end balances in the related pension accounts. (Enter all amounts as positive.)

TEAL PI Pension Worksh General Journal Entries Annual Pension Expense Items Cash Balance, January 1, 2022 cu Balance, December 31, 2022 EAL PLC. Vorksheet-2022 Memo Record Pension Asset/ Liability Defined Benefit Obligation Plan Assets E V > > V V