Hanson Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2012, the following balances related to this plan.

Plan assets (market-related value)             $520,000
Projected benefit obligation                         700,000
Pension asset/liability                                  180,000 Cr.
Prior service cost                                           81,000
Net gain or loss (debit)                                  91,000

As a result of the operation of the plan during 2012, the actuary provided the following additional data at December 31, 2012.

Service cost for 2012                                                   $108,000
Settlement rate, 9%; expected return rate,                         10%
Actual return on plan assets in 2012                              48,000
Amortization of prior service cost                                  25,000
Contributions in 2012                                                  133,000
Benefits paid retirees in 2012                                        85,000
Average remaining service life of active employees   10 years

Instructions
Using the preceding data, compute pension expense for Hanson Corp. for the year 2012 by preparing a pension worksheet that shows the journal entry for pension expense. Use the market related asset value to compute the expected return and for corridor amortization.