What is the effect of the declaration and subsequent Issuance of a 10% stock dividend on each of the following? a b Retained earnings decrease no effect increase no effect Paid-in capital increase increase decrease no effect C. d. Multiple Choice Option A O d Option B Option C O Option D January 1, 2020 Balances: PBO $4.500.000 ABO 3,900,000 Plan Assets 4.800.000 Deferred Pension Gain -AOCI 800,000 Prior Service Cost - AOCI 640.000 Calculate the amount of Pension Gain to be amortized for 2020, given that the remaining service life is 10 years. Multiple Choice $32.000 O O $35.000 $64.000 O o $80.000 Pension data for Barry Financial Services Inc. Include the following: ($ in thousands) $ 490 Discount rate, 7% Expected return on plan assets, 13% Actual return on plan assets, 12% Service cost, 2021 January 1, 2021: Projected benefit obligation Accumulated benefit obligation Plan assets (fair value) Prior service cost-AOCI (2021 amortization, $25) Net gain-AOCI (2021 amortization, $12) There were no changes in actuarial assumptions. December 31, 2021: Cash contributions to pension fund, December 31, 2021 Benefit payments to retirees, December 31, 2021 3,200 2,980 3,300 415 510 425 450 Required: 1. Determine pension expense for 2021. 2. Prepare the journal entries to record (a) pension expense, (b) gains and losses (if any). (c) funding, and (d) retiree benefits for 2021. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine pension expense for 2021. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands rounded to 1 decimal place (i.e., 5,500 should be entered as 5.5).) Pension Expense Pension expense Gallo Light began operations in 2021. The company sometimes sells used warehouses on an installment basis. In those cases, Gallo Light reports Income in its Income statement in the year of the sale. In Its Income tax return, though, Gallo Light reports Installment Income by the Installment method. Installment Income in 2021 was $120,000, which Gallo Light expects to collect equally over the next three years. The tax rate is 25%, but based on an enacted law, is scheduled to become 30% in 2023. Gallo Light's pretax accounting Income from the 2021 Income statement was $831,000, which includes $41,000 of Interest revenue from an Investment in municipal bonds. There were no differences between accounting Income and taxable income other than those described above. Required: 1. Prepare the appropriate journal entry to record Gallo Light's 2021 Income taxes. Show calculations. 2. What Is Gallo Light's 2021 net Income? (For both requirements, round your answers to 2 decimal place.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 a Prepare the appropriate journal entry to record Gallo Light's 2021 income taxes. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in thousands.) View transaction list Journal entry worksheet 1 Record the income taxes. Note: Enter debits before credits. General Journal Debit Credit Transaction 1 Record entry Clear entry View general journal