Using the information in E20-16, prepare a worksheet inserting January 1, 2015, balances, and showing December 31, 2015, balances. Prepare the journal entry recording postretirement benefit expense.

Data From E20-16

E20-16 (Postretirement Benefit Expense Computation) Kreter Co. provides the following information about its postretirement benefit plan for the year 2015. Service cost Contribution to the plan 45,000 10,000 Actual return on plan assets (at 8%) 8,800 Benefits paid 20,000 Plan assets at January 1, 2015 110,000 Defined postretirement benefit obligation at January 1, 2015 330,000 Discount (interest) rate 8%