Dade Shutters Inc. sponsors a defined-benefit pension plan for its employees. On January 1, 2014, the following balances relate to this plan.

Plan assets ................$1,650,000

Projected benefit obligation ......... 1,960,000

Pension liability .............. 310,000

Prior service cost ............ 240,000

As a result of the operation of the plan during 2014, the following additional data are provided by the actuary.

Service cost for 2014 ..............$133,000

Settlement rate, 6%

Actual return on plan assets in 2014 ...... 108,000

Amortization of prior service cost ......... 24,000

Expected return on plan assets ........ 160,000

Unexpected gain from change in projected benefit obligation,

due to change in actuarial predictions ...... 211,000

Contributions in 2014 ............. 143,000

Benefits paid retirees in 2014 .......... 178,000

Instructions

(a) Using the data above, compute pension expense for Dade Shutters for the year 2014 by preparing a pension worksheet.

(b) Prepare the journal entry for pension expense for 2014.