[The following information applies to the questions displayed below.] Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2021:

Prior service cost at Jan. 1, 2021, from plan amendment at the beginning of 2019 (amortization: $4 million per year)	$	32	million
Net loss-pensions at Jan.1, 2021 (previous losses exceeded previous gains)	$	40	million
Average remaining service life of the active employee group		10	years
Actuarys discount rate		8	%

($ in millions)

	PBO				Plan Assets
Beginning of 2021	$	300		Beginning of 2021		$	200
Service cost		48
Interest cost, 8%		24		Return on plan assets, 7.5% (10% expected)			15
Loss (gain) on PBO		(2	)	Cash contributions			45
Less: Retiree benefits		(20	)	Less: Retiree benefits			(20	)
End of 2021	$	350		End of 2021		$	240

Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Cable during 2022: ($ in millions)

	PBO				Plan Assets
Beginning of 2022	$	350		Beginning of 2022		$	240
Service cost		38
Interest cost at 8%		28		Return on plan assets, 15% (10% expected)			36
Loss (gain) on PBO		5		Cash contributions			30
Less: Retiree benefits		(16	)	Less: Retiree benefits			(16	)
End of 2022	$	405		End of 2022		$	290

Required: 1-a. Determine Lakesides pension expense for 2021. 1-b. Prepare the appropriate journal entries to record the expense as well as the cash contribution to plan assets and payment of benefits to retirees.