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 $16,000 Dr. Fair value of plan assets, Dec 31, 2020 18,000 Dr. Projected benefit obligation, Jan. 1, 2020 16,000 Cr. Net pension asset (liability), Dec. 31, 2020 640 Cr. Activity 2020 Actual return on plan assets $960 Contributions to plan assets 1,440 Service cost 1,600 Other Discount rate 8% Expected rate of return on plan assets 7% 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