1.... Pension data for Barry Financial Services Inc. include the following:

	($ in thousands)
Discount rate, 7%
Expected return on plan assets, 9%
Actual return on plan assets, 8%
Service cost, 2021	$	390
January 1, 2021:
Projected benefit obligation		2,700
Accumulated benefit obligation		2,400
Plan assets (fair value)		2,800
Prior service costAOCI (2021 amortization, $35)		365
Net gainAOCI (2021 amortization, $8)		410
There were no changes in actuarial assumptions.
December 31, 2021:
Cash contributions to pension fund, December 31, 2021		325
Benefit payments to retirees, December 31, 2021		350

Required: 1. Determine pension expense for 2021. 2. Prepare the journal entries to record (a) pension expense, (b) gains and losses (if any), (c) funding, and (d) retiree benefits for 2021.

2.... Lacy Construction has a noncontributory, defined benefit pension plan. At December 31, 2021, Lacy received the following information:

Projected Benefit Obligation	($ in millions)
Balance, January 1		$	600
Service cost			62
Prior service cost			14
Interest cost(5.0%)			30
Benefits paid			(42	)
Balance, December 31		$	664

Plan Assets	($ in millions)
Balance, January 1		$	250
Actual return on plan assets			28
Contributions 2021			62
Benefits paid			(42	)
Balance, December 31		$	298

The expected long-term rate of return on plan assets was 10%. There were no AOCI balances related to pensions on January 1, 2021. At the end of 2021, Lacy amended the pension formula creating a prior service cost of $14 million. Required: 1. Determine Lacy's pension expense for 2021. 2. Prepare the journal entry(s) to record Lacys (a) pension expense, (b) gains or losses, (c) prior service cost, (d) funding, and (e) payment of retiree benefits for 2021.