Refer to the data provided in E 17–19.

Required:
Prepare a pension spreadsheet to show the relationship among the PBO, plan assets, prior service cost, the net gain, pension expense, and the net pension asset.

E 17–19

Projected Benefit Obligation ($ in millions) Balance, January 1, 2021 $480 Service cost 82 Interest cost, discount rate, 5% 24 Gain due to changes in actuarial assumptions in 2021 Pension benefits paid (10) (40) Balance, December 31, 2021 $536 Plan Assets Balance, January 1, 2021 Actual return on plan assets (Expected return on plan assets, $45) $500 40 Cash contributions 70 Pension benefits paid (40) Balance, December 31, 2021 $570 January 1, 2021, balances: Pension asset $20 Prior service cost-AOCI (amortization $8 per year) 48 Net gain-AOCI (any amortiz ation over 15 years) 80