(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.?

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%