urrent Attempt in Progress

The following facts apply to the pension plan of Cullumber Inc. for the year $2025.$

Plan assets, January $1,2025$

$$524,400$

Projected benefit obligation, January $1,2025524,400$

Settlement rate

Service cost

$8\%$

Contributions $($funding$)$

$42,000$

Actual and expected return on plan assets $,45,400$

Benefits paid to retirees

$32,900$

Jsing this data, compute pension expense for the year $2025.$ As part of your solution, prepare a pension worksheet that shows the ournal entry for pension expense for $2025$ and the year$-$end balances in the related pension accounts. $($Enter all amounts aspositive.$)$