Waterway Company received the following selected information from its pension plan trustee concerning the operation of the company's defined benefit pension plan for the year ended December 31, 2020.

January 1, 2020 December 31, 2020

Projected benefit obligation $1,471,000 $1,497,000

Market-related and fair value of plan assets 804,000 1,136,400

Accumulated benefit obligation 1,573,000 1,691,300

Accumulated OCI (G/L)Net gain 0 (197,100 )

The service cost component of pension expense for employee services rendered in the current year amounted to $76,000 and the amortization of prior service cost was $118,300. The company's actual funding (contributions) of the plan in 2020 amounted to $252,000. The expected return on plan assets and the actual rate were both 10%; the interest/discount (settlement) rate was 10%. Accumulated other comprehensive income (PSC) had a balance of $1,183,000 on January 1, 2020. Assume no benefits paid in 2020. C) Indicate the pension-related amounts that would be reported on the income statement and the balance sheet for Waterway Company for the year 2020.

c)

Indicate the pension-related amounts that would be reported on the income statement and the balance sheet for Waterway Company for the year 2020.

Prepare the journal entry to record pension expense and the employer's contribution to the pension plan in 2020 . (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) or Waterway Waterway Company Balance Sheet (Partial) December 31,2020 Liabilities Pension Liability Stockholders' Equity Accumulated Other Comprehensive Income (PSC) V \( \$ \longdiv { 1 1 8 3 0 0 } \) Accumulated Other Comprehensive Income (G/L) 197100