a$.$ Compute net pension expense for the current year assuming that the January $1$ Accumulated OCI$-$Pension Gain$/$Loss is amortized ove

Pension expense:

$

$33,280$

b$.$ Prepare journal entries for $(1)$ pension expense, $(2)$ deferral of the gain, $(3)$ funding, and $(4)$ benefits paid.

$\backslash$table$[[$Date$,$Account Name,Dr$.,$Cr$.],[1.$ Dec. $31,$Pension Expense $v,33,280,0],[,$OCl$-$Pension Gain$/$Loss$,0,320],[,$Accrued Pension Liability $,0,32,960],[,$OCl$-$Prior Service Cost $,0,0],[,$To record pension expense,,$],[2.$ Dec. $31,$OCl$-$Pension Gain$/$Loss$,6,400,0],[,$Projected Benefit Obligation $,0,6,400],[,$To record deferral of actuarial gain or loss on PBO,,$],[3.$ Dec. $31,$Plan Assets,$48,000,0],[,$Cash,$0,48,000],[,$To record plan funding,,$],[4.$ Dec. $31,$Projected Benefit Obligation $,1,600,0],[,$Plan Assets $,0,1,600],[,$To record benefits paid,,$]]$

c$.$ Compute the underfunded $($overfunded$)$ pension balance as of December $31.$

Note: Use a negative sign for a net pension liability

$\backslash$table$[[,$Dec. $31,$ Year $1$