On January 1, 2013, Laura's Living Company has the following

On January 1, 2013, Laura's Living Company has the following defined benefit pension plan balances

Accumulated Postretirement benefit obligation .....................$5,700,000

Fair value of plan assets .........................................................$7,200,000

The interest (settlement) rate applicable to the plan is 10%. On January 1, 2014, the company amends the plan so that prior service costs of $350,000 were created. Other data related to the pension plan are as follows:


On January 1, 2013, Laura's Living Company has the following


Instructions:
(a) Prepare a worksheet for the postretirement plan for 2013 & 2014.
(b) For 2014, prepare the journal entry to record pension-relatedamounts

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