Herring Wholesale Company has a defined benefit pension plan. On January 1, 2021, the following pensionrelated data were available:

The rate of return on plan assets during 2021 was 9%, although it was expected to be 10%. The actuary revised assumptions regarding the PBO at the end of the year, resulting in a $23,000 decrease in the estimate of that obligation.

Required:1. Calculate any amortization of the net gain that should be included as a component of net pension expense for 2021.2. Assume the net pension expense for 2021, not including the amortization of the net gain component, is $325,000. What is pension expense for the year?3. Determine the net loss?AOCI or net gain?AOCI as of January 1, 2022.

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($ in thousands) $ 170 Net gain-AOCI Accumulated benefit obligation 1,170 Projected benefit obligation Fair value of plan assets Average remaining service period of active employees (expected to remain constant for the next several years) 1,400 1,100 15 years