Would anybody help me with this questions? see the attachment.

Problem 1 - Chapter 20 (26 points) Howard Corp. sponsors a defined-benefit pension plan for its employees. On January 1, 2015, the following balances related to this plan. Plan assets (fair value) Projected benefit obligation Pension asset/liability Prior service cost OCI - Loss $550,000 600,000 50,000 Cr. 75,000 65,000 As a result of the operation of the plan during 2015, the actuary provided the following additional data at December 31, 2015. Service cost for 2015 $ 70,000 Actual return on plan assets in 2015 45,000 Amortization of prior service cost 15,000 Contributions in 2015 115,000 Benefits paid retirees in 2015 80,000 Settlement rate 7% Expected return rate 8% Average remaining service life of active employees 10 years Instructions (a) Compute pension expense for Howard Corp. for the year 2015 by preparing a pension worksheet. (b) Prepare the journal entry for pension expense. Problem 2 - Chapter 21 (26 Points) Krause Company on January 1, 2015, enters into a five-year noncancelable lease, with four renewal options of one year each, for equipment having an estimated useful life of 10 years and a fair value to the lessor, Daly Corp., at the inception of the lease of $2,000,000. Krause's incremental borrowing rate is 8%. Krause uses the straight-line method to depreciate its assets. The lease contains the following provisions: 1. Rental payments of $146,000 including $13,000 for property taxes, payable at the beginning of each six-month period. 2. A termination penalty assuring renewal of the lease for a period of four years after expiration of the initial lease term. 3. An option allowing the lessor to extend the lease one year beyond the last renewal exercised by the lessee. (Hint - this makes the lease term 10 years, with 5 years + 4 renewal years + 1 lessor extension year) 4. A guarantee by Krause Company that Daly Corp. will realize $100,000 from selling the asset at the expiration of the lease. However, the actual residual value is expected to be $60,000. Instructions (a) What kind of lease is this to Krause Company and why? (b) What are the minimum lease payments? (c) What is the present value of the minimum lease payments? (PV factor for annuity due of 20 semi-annual payments at 8% annual rate, 14.13394; PV factor for amount due in 20 interest periods at 8% annual rate, .45639.) (Round to nearest dollar.) (d) Record journal entries for Krause during the first year of the lease. (Include an amortization schedule through 1/1/16 and round to the nearest dollar.) Problem 3 - Chapter 23 (26 Points) The following information is taken from French Corporation's financial statements: Cash Accounts receivable Allowance for doubtful accounts Inventory Prepaid expenses Land Buildings Accumulated depreciation Patents Accounts payable Accrued liabilities Bonds payable Common stock Retained earningsappropriated Retained earningsunappropriated Treasury stock, at cost Net income Depreciation expense Amortization of patents Cash dividends declared and paid Gain or loss on sale of patents December 31 2015 2014 $73,000 $ 27,000 102,000 80,000 (4,500) (3,100) 155,000 175,000 7,500 6,800 100,000 60,000 289,000 244,000 (32,000) (13,000) 20,000 35,000 $710,000 $611,700 $ 90,000 54,000 125,000 100,000 80,000 276,000 (15,000) $710,000 $ 84,000 63,000 60,000 100,000 10,000 302,700 (8,000) $611,700 For 2015 Year $73,300 19,000 5,000 30,000 none Instructions Prepare a statement of cash flows for French Corporation for the year 2015. (Use the indirect method.)