The same table but with the amounts in thousands to make it look bigger (Amounts in blue are CR and in red are DR):

Show all your computations please 1. Determine the average number of years for retirement used to compute the amortization of the or loss account for 2020. (3 points) 2. How much and how (ASSET OR DEBT) will report the company in the Statement of Financial Position of December 31, 2020? (2 points) 3. Determine the ending balance, as of 12/31/20, of the OCI-PSC account. (2 points) 4. Indicate the effect this pension plan will have on the 2020 Income and Expense Statement. Include the amount in dollars. (5 points)

4 5 6 7 2020 Pension Cost "Expense 2 3 Employer's Funding PBO Amount (CASH) 710,000 CR Plan Assets Net Pension Asset/Liability OCI - PSC OCI - Gain or (Loss) 40,000 DR 60,000 DR 99,000 DR Balance at 1/1/2020 Service Cost 60,500 CR Interest Cost 42,600 CR Pension Expense Components Amortization of PSC Amortization of (Gain) or Loss Expected Assets Return Actual Assets Return 60,000 DR Difference Between Actual and Expected Return 52,500 DR Amendments 3,000 DR Changes in Actuarial Assumptions 85,000 DR Payments to Retirees (55,000) CR Employer's Contributions 30,000 Balance at 12/31/20 785,000 DR 234,900 DR Adjusting Entry for 2020 101,100 CR2,000 CR 135,900 DR 3 4 5 6 2020 Pension Cost "Expense" 2 Employer's Funding Amount (CASH) PBO Plan Assets Net Pension Asset/Liability OCI-PSC OCI-Gain or (Loss) Balance at 1/1/2020 710.0 CR 40.0 DR 60.0 DR 99.0 DR Service Cost 60.5 CR Interest Cost 42.6 CR Pension Expense Components Amortization of PSC Amortization of (Gain) or Loss Expected Assets Return Actual Assets Return 60.0 DR 52.5 DR Difference Between Actual and Expected Return Amendments 3.0 DR 85.0 DR Changes in Actuarial Assumptions Payments to Retirees 55.0 CR Employer's Contributions 30.0 785.0 DR 234.9 DR Balance at 12/31/20 Adjusting Entry for 2020 101.1 CR 2.0 CR 135.9 DR 4 5 6 7 2020 Pension Cost "Expense 2 3 Employer's Funding PBO Amount (CASH) 710,000 CR Plan Assets Net Pension Asset/Liability OCI - PSC OCI - Gain or (Loss) 40,000 DR 60,000 DR 99,000 DR Balance at 1/1/2020 Service Cost 60,500 CR Interest Cost 42,600 CR Pension Expense Components Amortization of PSC Amortization of (Gain) or Loss Expected Assets Return Actual Assets Return 60,000 DR Difference Between Actual and Expected Return 52,500 DR Amendments 3,000 DR Changes in Actuarial Assumptions 85,000 DR Payments to Retirees (55,000) CR Employer's Contributions 30,000 Balance at 12/31/20 785,000 DR 234,900 DR Adjusting Entry for 2020 101,100 CR2,000 CR 135,900 DR 3 4 5 6 2020 Pension Cost "Expense" 2 Employer's Funding Amount (CASH) PBO Plan Assets Net Pension Asset/Liability OCI-PSC OCI-Gain or (Loss) Balance at 1/1/2020 710.0 CR 40.0 DR 60.0 DR 99.0 DR Service Cost 60.5 CR Interest Cost 42.6 CR Pension Expense Components Amortization of PSC Amortization of (Gain) or Loss Expected Assets Return Actual Assets Return 60.0 DR 52.5 DR Difference Between Actual and Expected Return Amendments 3.0 DR 85.0 DR Changes in Actuarial Assumptions Payments to Retirees 55.0 CR Employer's Contributions 30.0 785.0 DR 234.9 DR Balance at 12/31/20 Adjusting Entry for 2020 101.1 CR 2.0 CR 135.9 DR