AalbCodec cde Normal No Spacing 3 5 (30 points) The accountant for Marlin Corporation has developed the following information for the company's defined-benefit pension plan for 2017 and 2018: Account 2017 2018 Annual Service cost $1,000,000 $1,200000 Actual return on plan assets 500,000 600,000 Amortization of prior service cost 250,000 230,000 Annual contribution to the plan 1,050,000 1,230000 Benefits paid to retirees 1,220,000 1,500,000 Settlement rate 5% 5% Expected rate of return on plan assets 10% 9% The projected benefit obligation at December 31, 2018, amounted to $8,750,000. Instructions IE (a) Using the above information for Marlin Corporation, complete the pension worksheet for 2017 and 2018. Calculated amounts should be supported. 6) Prepare the journal entry (entries) to reflect the accounting for the company's pension plan for the year ending December 31, 2017 and 2018. (C) Determine whether there will be any net gains/losses amortization for 2019 using the corridor approach Bonus Question (5 points) Indicate the pension-related accounts and amounts reported in the financial statements (both income statement and balance sheet statement) for 2018. wap9x10 AalbCodec cde Normal No Spacing 3 5 (30 points) The accountant for Marlin Corporation has developed the following information for the company's defined-benefit pension plan for 2017 and 2018: Account 2017 2018 Annual Service cost $1,000,000 $1,200000 Actual return on plan assets 500,000 600,000 Amortization of prior service cost 250,000 230,000 Annual contribution to the plan 1,050,000 1,230000 Benefits paid to retirees 1,220,000 1,500,000 Settlement rate 5% 5% Expected rate of return on plan assets 10% 9% The projected benefit obligation at December 31, 2018, amounted to $8,750,000. Instructions IE (a) Using the above information for Marlin Corporation, complete the pension worksheet for 2017 and 2018. Calculated amounts should be supported. 6) Prepare the journal entry (entries) to reflect the accounting for the company's pension plan for the year ending December 31, 2017 and 2018. (C) Determine whether there will be any net gains/losses amortization for 2019 using the corridor approach Bonus Question (5 points) Indicate the pension-related accounts and amounts reported in the financial statements (both income statement and balance sheet statement) for 2018. wap9x10