Kenseth Corp. has the following beginning-of-the-year present values for its projected benefit obligation and market-related values for its pension plan assets.

The average remaining service life per employee in 2019 and 2020 is 10 years and in 2021 and 2022 is 12 years. The net gain or loss that occurred during each year is as follows: 2019, $280,000 loss; 2020, $90,000 loss; 2021, $11,000 loss; and 2022, $25,000 gain. (In working the solution, the gains and losses must be aggregated to arrive at year-end balances.)

Instructions

Using the corridor approach, compute the amount of net gain or loss amortized and charged to pension expense in each of the four years, setting up an appropriate schedule.

Projected Plan Benefit Assets Obligation Value 2019 $2,000,000 $1,900,000 2020 2,400,000 2,500,000 2021 2,950,000 2,600,000 2022 3,600,000 3,000,000