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The following information pertains to Sowell Corporation's defined benefit pension plan: 2022 2023 Beginning Beginning($ in thousands)balances balancesProjected benefit obligation$(6,000) $(6,504)Plan assets 5,760 6,336Prior service
The following information pertains to Sowell Corporation's defined benefit pension plan:
2022 2023 Beginning Beginning($ in thousands)balances balancesProjected benefit obligation$(6,000) $(6,504)Plan assets 5,760 6,336Prior service costAOCI 600 552Net lossAOCI$720 $786At the end of 2022, Sowell contributed $696 thousand to the pension fund and benefit payments of $624 thousand were made to retirees. The expected rate of return on plan assets was 10%, and the actuary's discount rate is 8%. There were no changes in actuarial estimates and assumptions regarding the PBO.
What is the 2022 pension expense for Sowell's plan?
A. $594 thousand.
B. $606 thousand.
C. $678 thousand.
D. None of these are correct.
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