The following is an incomplete pension spreadsheet for the current year for Desperado Corporation. PriorNet (S in millions) debit (credit Beginning balance (500 250 Service cost Interest cost Expected return on assets (Gain)loss on assets Plan Service (Gain) Pension Net Pension PBO AssetsCost Loss Expense Cash (Liabilitv/Asset 58 62 23 nortization of: Prior service cost Net (gain)/loss Loss on PBO Contributions to fund Retiree benefits 26 26 56 43 (43 575) 288 ai Ending balance 54 79 287 Required: 1) Complete the pension spreadsheet. 2) Prepare the journal entry to record pension expense for the year. |