Question: 1. Pension data for Barry Financial Services Inc. include the following: ($ in thousands) Discount rate, 5% Expected return on plan assets, 8% Actual return

Pension data for Barry Financial Services Inc. include the following: ($ in thousands) Discount rate, 5% Expected return on plan assets, 8% Actual return on plan assets, ?% Service cost, 2621 E 446 January 1, 2621: Projected benefit obligation 2,956 accumulated benefit obligation 2,656 Plan assets (fair value) 3,656 Prior service costACEI (2621 amortization, $36) 396 Net gain#DCI {2621 amortization, $16] 466 There were no changes in actuarial assumptions. December 31, 2621: Cash contributions to pension fund, December 31, 2621 BPS Benefit payments to retirees, December 31, 2621 466 Required: 1. Determine pension expense for 202]. 2. Prepare the journal entries to record ta] pension expense, [b]: gains and losses iif any]= [c]: funding. and [di retiree benefits for 2021

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