veldre spa proivides the following information about its defined benefit pension plan for te year 2019

service cost 90,000

contribution to the plan 105,000

benefits paid 40,000

plan assets at january 1, 2019 640,000

defined benefit obligation at january 1, 2019 700,000

discount (interest) rate 10%

prepare a pension worksheet inserting january 1, 2019 balances, showing December 31, 2019 balances and the journal entry recording pension expense