Using the information in E16-9, prepare a pension worksheet inserting January 1, 2008, balances, showing December 31, 2008, balances and the journal entry recording pension expense.

Service cost...............................................................................................$ 90,000

Contribution to the plan.......................................................................105,000

Prior service cost amortization.............................................................10,000

Actual and expected return on plan assets.....................................64,000

Benefits paid..................................................................................................40,000

Pension liability at January 1, 2008...................................................160,000

Plan assets at January 1, 2008..............................................................640,000

Projected benefit obligation at January 1, 2008............................800,000

Accumulated other comprehensive income (PSC)

balance at December 31, 2007.............................................................150,000

Interest/discount (settlement) rate............................................................10%