The following information relates to Jackson, Inc.:

For the Year Ended December 31,

2014 2015

Plan assets (at fair value) $1,360,000 $1,824,000

Pension expense 570,000 450,000

Projected benefit obligation 1,590,000 2,244,000

Annual contribution to plan 600,000 450,000

Accumulated OCI (PSC) 480,000 420,000

The amount reported as the liability for pensions on the December 31, 2014 balance sheet is

a. $ -0-.

b. $30,000.

c. $260,000.

d. $230,000.

The amount reported as the liability for pensions on the December 31, 2015 balance sheet is

a. $ -0-.

b. $110,000.

c. $1,934,000.

d. $420,000.