II. Corridor approach (amortization of net gains and losses.) Gibbs Company has 200 employees who are expected to receive benefits under the company's defined-benefit pension plan. The total number of service-years of these employees is 2,000. The actuary for the company's pension plan calculated the following net gains and losses: 10yrs. For the Year Ended December 31 2014 Gain Or Loss $ 640,000 Gain 554,000 Loss 990,000 Loss 2015 2016 Prior to 2014, there was no unrecognized net gain or loss. Information about the company's projected benefit obligation and fair value of plan assets follows: Projected benefit obligation Fair value of plan assets 2014 $2,100,000 1,680,000 As of January 1 2015 $2,340,000 2,460,000 2016 $2,940,000 2,550,000 Instructions Based on the above information about Gibbs Company, prepare a schedule which reflects the amount of net gain or loss to be amortized by the company as a component of pension expense for the years 2014, 2015, and 2016. The company amortizes net gains or losses using the straight-line method over the average service life of participating employees.