URGENT

FWB plc operates a defined benefit pension plan for its employees. The directors of FWB plc have adopted the revised provisions of IAS 19 (R) Employee Benefits. At 1 April 2013 the fair value of the pension plan assets was 2,700,000 and the present value of the pension plan obligations was 3,000,000. The service cost for the year ended 31 March 2014 was 650,000. On 1 April 2013 the pension plan was amended to offer additional benefits to members resulting in past service costs of 200,000. The relevant discount rate for the year ended 31 March 2014 was estimated at 5% and FWB plc paid 950,000 in contributions to the plan. The pension plan paid 320,000 to retired members in the year to 31 March 2014. At 31 March 2014 the fair value of the pension plan assets was 3,600,000 and the present value of the pension plan obligations was 3,800,000. REQUIRED: a) Prepare, in accordance with IAS 19 (revised) Employee Benefits, the pension extracts in the income statement and statement of financial position for the year ended 31 March 2014. b) Calculate the amounts that will be included in the other comprehensive income for the year ended 31 March 2014, and pension funding ratio for the year 2013 and 2014