Use the following information to answer items 7 to 9: Moon Company provided the following information during the current year: Fair value of plan assets, January 1 6,000,000 Projected benefit obligation 5,000,000 Asset ceiling, January 1 700,000 During the current year, the following data are gathered: Current service cost 700,000 Past service cost 200,000 1,000,000 500,000 10% Actual return on plan assets 900,000 Contribution to the plan Decrease in projected benefit obligation due to change in actuarial assumptions Discount rate Asset ceiling on December 31 is P1,200,000. 7. What is the employee benefit expense? A. 800,000 B. 830,000 C. 870,000 D. 900,000 8. What is the net remeasurement gain? A. 300,000 B. 330,000 C. 500,000 D. 800,000 9. A What is the prepaid/accrued benefit cost to be presented in the financial statements at the end of the current year? B. 1,200,000 prepaid 1,200,000 accrued D. 2,000,000 prepaid C. 2,000,000 accrued