Nelson Company has a defined benefit pension plan for its employees. At the end of 216 and 2017, the following information is available in regard to this pension plan:

Required:
1. Compare the amount of nelson€™s pension expense in 2016 and 2017.
2. Based on the available information, prepare all the journal entries related to Nelson€™s pension plan 2016 and 2017.
3. If the prior service cost was vested, explain how Nelson Company€™s pension expense for 2016 would be different under IFRS.

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2016 2017 Expected return on plan assebs Amortzation of net gain Amortization of net loss Amortization of prior service cost Company contribution (funded 12/31) Interest cost on projected benefit obligation Service cost Prior Service Cost (as of 1/1) 27,000 28,000 3,000 7,000 220,000 42,000 211,000 96,000 6,000 248,000 45,000 217,000 89,000