The following information was obtained for lan Co.'s defined benefit pension plan for 2020: Defined benefit obligation (DBO), January 1, 2020 Plan assets, January 1, 2020 $1,970,000 $1,860,000 $163,000 $201,000 $216,000 $14,400 Current service cost for 2020 (assume accrues at end of year) Actual return on plan assets for 2020 Annual contribution to the plan for 2020 (made on June 1, 2020) Benefits paid to retirees for 2020 (made on December 31, 2020) Plan assets transferred to employees on termination settlement (effective December 31, 2020) Reduction in DBO from termination of employees (effective December 31, 2020) Discount rate assumption (yield on corporate bonds) $200,000 $177,000 7% DBO, December 31, 2020 (per actuary) Plan assets, December 31, 2020 $2,115,000 $2,062,600 Required: a) Assuming that lan Co. is a publicly accountable entity, calculate the pension expense for the year. b) Perform a reconciliation of the DBO and plan assets from the beginning to the end of the year ended December 31, 2020. c) Prepare all journal entries necessary to record the pension plan transactions for the year ended December 31, 2020