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Will leave a thumbs up! A partially completed pension spreadsheet showing the relationships among the elements that comprise the defined benefit pension plan of Universal
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A partially completed pension spreadsheet showing the relationships among the elements that comprise the defined benefit pension plan of Universal Products is given below. The actuary's discount rate is 5%. At the end of 2019 , the pension formula was amended, creating a prior service cost of $320,000. The expected rate of return on assets was 8%, and the average remaining service life of the active employee group is 20 years in the current year as well as the previous two years. Required: Fill in the missing amounts. (Enter your answers in thousands rounded to 1 decimal place.) Step by Step Solution
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