U$.$S$.$ Metallurgical Incorporated reported the following balances in its financial statements and disclosure notes at December $31,2023.$Projected benefit obligation $320,000$U$.$S$.$M$.\text{'}$s actuary determined that $2024$ service cost is $$63,000.$ Both the expected and actual rate of return on plan assets are $10\%.$ The

interest $($discount$)$ rate is $5\%.$ U$.$S$.$M$.$ contributed $$123,000$ to the pension fund at the end of $2024,$ and retirees were paid $$47,000$

from plan assets.

Required: $$

What is the pension expense at the end of $2024?$

What is the projected benefit obligation at the end of $2024?$

What is the plan assets balance at the end of $2024?$

What is the net pension asset or net pension liability at the end of $2024?$

Prepare journal entries to record the $($a$)$ pension expense, $($b$)$ funding of plan assets, and $($c$)$ retiree benefit payments.

Complete this question by entering your answers in the tabs below.

What is the pension expense at the end of $2024?$

What is the projected benefit obligation at the end of $2024?$

What is the plan assets balance at the end of $2024?$

What is the net pension asset or net pension liability at the end of $2024?$

Note: Enter your answers in thousands $($i$.$e$.,10,000$ should be entered as $10).$