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The following information relates to Jackson, Inc.: For the Year Ended December 31, 2020 2021 Plan assets (at fair value) $2,121,000 $2,906,000 Pension expense 916,000

The following information relates to Jackson, Inc.:

For the Year Ended December 31,

2020 2021

Plan assets (at fair value) $2,121,000 $2,906,000

Pension expense 916,000 741,000

Projected benefit obligation 2,511,000 3,251,000

Annual contribution to plan 1,025,000 765,000

Accumulated OCI (PSC) 825,000 726,000

The amount reported as the liability for pensions on the December 31, 2021 balance sheet is

$ -0-.

$45,000.

$390,000.

$345,000.

Please explain in detail! Thank you. The answer I chose was 390,000 BUT it was wrong!

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