The following information pertains to Kane Company’s defined benefit pension plan:

Balance sheet asset, 1/1/20X1	$ 2,000
AOCI—prior service cost, 1/1/20X1	24,000
Service cost	19,000
Interest cost	38,000
Expected return on plan assets	21,000
Actual return on plan assets	22,000
Prior service cost amortization	6,000
Employer contributions	40,000

Kane has no net actuarial gains or losses in AOCI at January 1, 20X1.

Required:

In its December 31, 20X1, balance sheet, what amount should Kane report as a pension asset (liability)?