Refer to the data provided in E 17–19.

Data from in E 17-19

Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2024 (the end of Beale’s fiscal year), the following pension-related data were available:

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.

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Projected Benefit Obligation Balance, January 1, 2024 Service cost Interest cost, discount rate, 5% Gain due to changes in actuarial assumptions in 2024 Pension benefits paid Balance, December 31, 2024 Plan Assets Balance, January 1, 2024 Actual return on plan assets (Expected return on plan assets, $45) Cash contributions Pension benefits paid Balance, December 31, 2024 January 1, 2024, balances: Pension asset Prior service cost-AOCI (amortization $8 per year) Net gain-AOCI (any amortization over 15 years) ($ in millions) $480 82 24 (10) (40) $536 $500 40 70 (40) $570 $20 48 80