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U.S. Metallurgical Inc. reported the following balances in its financial statements and disclosure notes at December 31, 2017 Plan assets Projected benefit obligation $590,000 500,000

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U.S. Metallurgical Inc. reported the following balances in its financial statements and disclosure notes at December 31, 2017 Plan assets Projected benefit obligation $590,000 500,000 us.M's actuary determined that 2018 service cost is $79,000. Both the expected and actual rate of return on plan assets are 10%. The interest (discount) rate is 6%.U.SM. contributed $139,000 to the pension fund at the end of 2018, and retirees were paid $63,000 from plan assets. (Enter you answers in millions (i.e., 10,000,000 should be entered as 10).) Required: 1 to 4. Determine the following amounts at the end of 2018. 5. Prepare journal entries to record the pension expense, funding of plan assets, and retiree benefit payments. Complete this question by entering your answers in the tabs below Req 1 to 4 Req 5 Determine the following amounts at the end of 2018. December 31, 2018 1 Pension expense 2 Projected benefit obligation 3 Plan assets iet pansion asu

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