[The following information applies zo the questions displayed beiow] Actuary and truttee reports indicate the following changes in the PBO and plan assets of Lakeside Cable duting 2024 Prlor service cost at jacuary 1, 2024, from plan asendeent at the beginning of 2022 (anortization; $5 nillion per year) Net loss-pensions at Jamuary 1, 2024 (previous lossas exereded previous gains) Average restining service life of the octive esployte group Actuiry? 1 discount rate 543million5semillion10years7 (s in millions) Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Cable during 2025 (s in millions) Required: 1.2. Determine-lakeside s pensian expense for 2024 1.b. Piepare the oppropriate journal entries to recoid the expense as weil as the cash contribution to plan assets and payment of benefits to iedrees Required: 1-a. Determine Lakeside's pension expense for 2024. 1-b. Prepare the appropriate joumal entries to record the expense as well as the cash contribution to plan assets and payment benefits to retirees. Complete this question by entering your answers in the tabs below. Determine Lakeside's pension expense for 2024. Note: Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10 ). Prepare the appropnate journal entries to record the expense as well as the cash contribution to plan assets and payment of benefits to retirees: Note: If no entry is required for a transaction/event, select "No journal entry requited" in the first account field. Eniter your answers in millions (i,e, 10,000,000 should be entered as 10). Show less a 2. Determine the new gains and/or losses in 2024 and prepare the appropriate journal entry(s) to record them. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in milions (i.e., 10,000,000 should be entered as 10 ). 1 Record gain or loss on plan assets. 2 Record gain or loss on PBQ Note : Q = joumal entry has been entered Credit 2. Determine the new gains and/or losses in 2024 and prepare the appropriate journal entry(s) to record them. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10 ). 1 Record gain or loss on plan assets. 2 Record gain or loss on PBO: Note : 8 = journal entry has been entered