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will rate asap! thank you The following information relate to the defined benefit pension plan of Lorentz Corp. as of 1/1/x1 Projected benefit obligation Fair

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The following information relate to the defined benefit pension plan of Lorentz Corp. as of 1/1/x1 Projected benefit obligation Fair value of plan assets Unrecognized prior service cost Unrecognized net pension gain or (loss) Pension data for 201 and 202 Service cost Contributions to pension plan Benefits paid to retirees Actual retum on pension plan assets Amortization of prior service costs Settlement interest rate Expected rate of return on plan assets Accumulated benefit obligation 12/31 Vested benefit obligation 12/31 Average remaining service lives of employees 1,655,000 1,513,500 221,600 (65,000) \begin{tabular}{cc} 201 & 202 \\ 88,000 & 99,000 \\ 120,000 & 125,000 \\ 132,000 & 140,000 \\ 26,350 & 180,000 \\ 53,000 & 42,000 \\ 11% & 11% \\ 10% & 10% \\ 1,620,000 & 1,850,000 \\ 1,200,000 & 1,500,000 \\ 12 years & 14 years \end{tabular} 1. Calculate the PBO at 12/31/1 and 12/31/2 \begin{tabular}{|l|l|l|} \hline & 201 & 202 \\ \hline Beginning balance & 1,655,000 & \\ \hline Service cost & & \\ \hline Interest & & \\ \hline Benefits paid to retirees & & \\ \hline Ending balance & & \\ \hline \end{tabular} 7. Make journal entries to record pension expense for 201 and 202 9. Will the company report a pension asset or a liability in their balance sheet at the end of 202

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