Analyzing Changes in Plan Assets and PBO The following information pertains to a company's defined benefit plan. Balance Fair value of plan assets, Jan. 1, 2020 Fair value of plan assets, Dec. 31, 2020 Projected benefit obligation, Jan. 1, 2020 Net pension asset (liability), Dec. 31, 2020 $14,000 Dr. 15,750 Dr. 14,000 Cr. 560 Cr. Activity 2020 Actual return on plan assets $840 Contributions to plan assets 1,260 Service cost 1,400 Other Discount rate Expected rate of return on plan assets 7% 8% Required a. Calculate benefits paid to retirees in 2020. Note: Do not use a negative sign with your answer. $ 0. b. Calculate any actuarial gain or loss on the PBO in 2020. Note: Use a negative sign to indicate a loss. $ 0