JDS Shipyards projected benefit obligation, accumulated benefit obligation, and plan assets were $40 million, $30 million, and

Question:

JDS Shipyard’s projected benefit obligation, accumulated benefit obligation, and plan assets were $40 million, $30 million, and $25 million, respectively, at the end of the year. What, if any, pension liability must be reported in the balance sheet? What would JDS report if the plan assets were $45 million instead?

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