The statement of fiduciary net position for a school district's defined benefit pension plan shows the following (in condensed form and in thousands). Label your answers with A-C and 1-2 when applicable. Assets Cash and short-term investments $ 66,129 Receivables 49,946 Investments at fair value 3,565,931 Total assets $3,682,006 Liabilities Benefits payable to current employees and retirees $ 4,212 Net position $3,677,794 The plan has been in operation for over 20 years and covers all school district employees. What is the most reasonable explanation of why the benefits payable to current employees and retirees is so small relative to plan assets? Suppose that in the current year the school districts annual required contribution was $6,300,000. In the past, the district has always paid the annual required contribution in full. However, in the current year the district budgeted and paid into the pension trust fund only $5,000,000. Prepare the journal entry that the district (not the plan) should make to record the year's pension contribution. You need not make budgetary or closing entries. The plan is accounted for in a governmental fund. Prepare the journal entry to record the years pension contribution for reporting in the districts government-wide statementsThe districts annual financial report indicated that its "normal cost" was $530,000 and that the "amortization of the unfunded actuarial accrued liability" was $100,000. What is meant by "normal cost?" What is meant by "unfunded actuarial accrued liability"? What are its principal causes? Why must it be amortized?