The following information pertains to Zion Company's defined benefit pension plan: Net Pension liability, January 1, Year 1 Service cost Interest cost Actual and expected retum on plan assets $2,000 $17,000 $40,000 $22,000 Amortization of prior service cost arnising in a prior period$52,000 Employer contributions $40,000 In its December 31, Year 1, balance sheet. what amount should Zion report as the Net Pension Asset/Liability? Select one: O a. $7,000 asset O b. $15,000 liability O c. $45,000 liability O d. $52,000 liability O e. $3,000 asset