Cornwall has a defined benefit pension plan. The company’s balance sheet shows a defined benefit asset of $650,000 at year-end. This balance was composed of $22,800,000 of assets and $22,150,000 of pension obligations. During the year, the company contributed $7,500,000 to the pension, while $3,450,000 was paid out to retirees. The pension assets earned $3,350,000, which was $1,500,000 above expectations. Current service cost was $2,800,000 and interest cost was $1,700,000. The actuaries calculated an actuarial loss of $1,250,000 for the year. 

Required:

Prepare the two schedules that would be presented in the notes to reconcile the opening and closing balances of Cornwall’s pension assets and liabilities.