(Postretirement Benefit Worksheet?2 Years) Elton Co. has the following postretirement benefit plan balances on January 1, 2010.

Accumulated postretirement benefit obligation ? ? ? ? ? ? ? ? ? ??$2,250,000

Fair value of plan assets? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? 2,250,000

The interest (settlement) rate applicable to the plan is 10%. On January 1, 2011, the company amends the plan so that prior service costs of $175,000 are created. Other data related to the plan are:

(a) Prepare a worksheet for the postretirement plan in 2010.

(b) Prepare any journal entries related to the postretirement plan that would be needed at December 31, 2010.

(c) Prepare a worksheet for 2011 and any journal entries related to the postretirement plan as of December 31, 2011.

(d) Indicate the postretirement-benefit?related amounts reported in the 2011 financial statements.?

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Service costs Prior service costs amortization Contributions (funding) to the plan Benefits paid Actual return on plan assets Expected rate of return on assets 2010 $75,000 -0- 45,000 40,000 140,000 8% 2011 $ 85,000 12,000 35,000 45,000 120,000 6%