The management of Lynbrook, Inc. decided to adopt a defined benefit pension plan on January 1, 2020. Due to the profitability of the company, management provided for retroactive benefits for active employees of the company. These retroactive benefits resulted in a prior service cost of $1,680,000 that created a PBO of the same amount on January 1, 2020. As the Controller of Lynbrook, you recommended the company amortize this amount over the 20-year average remaining life of the employees. Your accounting department, with the help of actuaries, provided the following pension information: Discount rate (2020 & 2021) Expected long-term rate of return on plan assets Actual rate of return on plan assets Company contribution paid (funded 12/31/20) Company contribution paid (funded 12/31/21) Service cost: 2020 Service cost; 2021 Plan assets balance: 1/1/2020 Pension benefits paid (2020 & 2021) 8% 9% 10% $550,000 $530,000 $257,000 $264,000 $0 $30,000 Lynbrook uses the corridor approach to amortize gains or losses. a. Required: Complete a pension worksheet/spreadsheet detailing the above transactions for 2020 & 2021. Enter transactions in the appropriate columns, indicating whether the transaction is a debit or a (credit) (include all relevant transactions) b. Calculate the ending balances in all of the general ledger accounts on the pension worksheet (except for Cash) and the Net Pension Asset/(Liability) for 2020 & 2021. In addition to entering the transactions in the worksheet/spreadsheet, prepare all of the appropriate journal entries related to Lynbrook's pension plan for 2020 & 2021. c. Reminder: Your solution must be on an excel spreadsheet using excel formulas for any computations