Abbott and Abbott has a noncontributory, defined benefit pension plan. At December 31, 2021, Abbott and Abbott received the following information:

Projected Benefit Obligation	($ in millions)
Balance, January 1		$	150
Service cost			26
Interest cost			15
Benefits paid			(9	)
Balance, December 31		$	182

Plan Assets
Balance, January 1		$	90
Actual return on plan assets			10
Contributions 2021			26
Benefits paid			(9	)
Balance, December 31		$	117

The expected long-term rate of return on plan assets was 10%. There was no prior service cost and a negligible net lossAOCI on January 1, 2021. Required: 1. Determine Abbott and Abbotts pension expense for 2021. 2. Prepare the journal entries to record Abbott and Abbotts (a) pension expense, (b) funding, and (c) payment for 2021.

Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine Abbott and Abbott's pension expense for 2021. Pension expense $ 32 million EX: This is a numeric cell, so please enter numbers only Required 1 Required 2 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entries to record Abbott and Abbott's (a) pension expense, (b) funding, and (c) payment for 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) : View transaction list View journal entry worksheet No Transaction General Journal Debit Credit A A Pension expense 32 9 Plan assets PBO 41 B B Plan assets 26 Cash 26 PBO 9 Plan assets 9