Abbott and Abbott has a noncontributory, defined benefit pension plan. At December 31, 2018, Abbott and Abbott received the following information Projected Benefit Obligation Balance, January 1 ($ in millions) $150 Service cost Interest cost Benefits paid 30 12 Balance, December 31 $184 Plan Assets Balance, January 1 $125 30 $158 Actual return on plan assets Contributions 2018 Benefits paid Balance, December 31 The expected long-term rate of return on plan assets was 8%. There was no prior service cost and a negligible net loss-AOCI on January 1, 2018 Required 1. Determine Abbott and Abbott's pension expense for 2018 2. Prepare the journal entries to record Abbott and Abbott's pension expense, funding, and payment for 2018 The expected long-term rate of return on plan assets was 8%. There was no prior service cost and a negligible net loss-AOCI on January 1, 2018. Required: 1. Determine Abbott and Abbott's pension expense for 2018. 2. Prepare the journal entries to record Abbott and Abbott's pension expense, funding, and payment for 2018. Complete this question by entering your answers in the tabs below Required 1Reqired 2 Determine Abbott and Abbott's pension expense for 2018 Pension expense million Required 1 Required 2 Journal entry worksheet 2 Record the pension expense Note: Enter debits before credits. Event General Journal Debit Credit Journal entry worksheet 2 3 Record the funding of plan assets Note: Enter debits before credits Event General Journal Debit Credit Journal entry worksheet 2 3 Record the payment of benefits. Note: Enter debits before credits. Event General Journal Debit Credit