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ASAP

The following information is provided in relation to a defined benefit plan operated by Celine. At 1 January 204, the present value of the obligation was $140 million and the fair value of the plan assets amounted to $80 million. Required: Determine the net plan obligation or asset at 31 December 204 and 205 and the amounts to be taken to profit or loss and other comprehensive income for both financial years. Determine the net plan obligation or asset at 31 December 204 and 205 and the amounts to be taken to profit or loss and other comprehensive income for both financial years. Show the following: (a) The net liability for year 20x4 and 205 (5 marks) (b) The statement of profit and loss and other comprehensive income for year 204 and 205 (8 marks) (c) A reconciliation of the net obligation for 204 and 205 showing the remeasurement component (i.e. actuarial difference) (12 marks)