To focus on the core issues, we ignored the income tax effects of the pension amounts....

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To focus on the core issues, we ignored the income tax effects of the pension amounts. Reproduced below are the journal entries that Global Communications used to record its pension expense and funding in 2021 and the new gain and loss that occurred that year. To Record Pension Expense Pension expense (total) Plan assets (expected return on plan assets) PBO ($52 service cost + $33 interest cost) Amortization of prior service cost-OCI (2021 amortization) Amortization of net loss-OCI (2021 amortization) To Record Funding Plan assets Cash (contribution to plan assets) To Record Payment of Benefits PBO ($ in millions) 54 36 85 1023 59 59 53 53 53 Plan assets (retiree benefits) To Record Gains and Losses Loss OCI (from change in assumption) PBO 34 34 Plan assets 3 Gain-OCI (from actual return exceeding expected return) 3 To focus on the core issues, we ignored the income tax effects of the pension amounts. Reproduced below are the journal entries that Global Communications used to record its pension expense and funding in 2021 and the new gain and loss that occurred that year. To Record Pension Expense Pension expense (total) Plan assets (expected return on plan assets) PBO ($52 service cost + $33 interest cost) Amortization of prior service cost-OCI (2021 amortization) Amortization of net loss-OCI (2021 amortization) To Record Funding Plan assets Cash (contribution to plan assets) To Record Payment of Benefits PBO ($ in millions) 54 36 85 1023 59 59 53 53 53 Plan assets (retiree benefits) To Record Gains and Losses Loss OCI (from change in assumption) PBO 34 34 Plan assets 3 Gain-OCI (from actual return exceeding expected return) 3