Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2024 (the end of Beale's fiscal year), the following pension-related data were available: Projected Benefit Obligation Balance, January 1, 2024 Service cost Interest cost, discount rate, 58 Gain due to changes in actuarial assumptions in 2024 Pension benefits paid Balance, December 31, 2024 Plan Assets Balance, January 1, 2024 Actual return on plan assets (Expected return on plan assets, $46) Cash contributions Pension benefits paid Balance, December 31, 2024 ($ in millions) $ 620 64 ($ in millions) 31 (15) (31) $ 669 $ 640 41 82 (31) $ 732 January 1, 2024, balances: Pension asset Prior service cost-AOCI (amortization $8 per year) Net gain-AOCI (any amortization over 10 years) Required: 1. to 3. Prepare the journal entries required for the pension during 2024. ($ in millions) $ 20 40 104 4. Determine the balances at December 31, 2024, in the net gain-AOCI, and prior service cost-AOCI. [Hint: You might find T-accounts useful.] 5. What amount will Beale report in its 2024 balance sheet as a net pension asset or net pension liability for the funded status of the plan? Complete this question by entering your answers in the tabs below. Req 1 to 3 Req 4 Req 5 Prepare the journal entries required for the pension during 2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions. (l.e., 10,000,000 should be entered as 10). View transaction list View journal entry worksheet No Event General Journal 1 1 Pension expense Plan assets Amortization of net gain - OCI Amortization of Prior Service Cost - OCI PBO 2 2 PBO Gain - OCI 3 3 Loss - OCI Plan assets 4 4 Plan assets Cash 5 5 PBO Plan assets Req 1 to 3 Req 4 > Debit Credit 4 8 95 15 15 82 82 31 31 Complete this question by entering your answers in the tabs below. Req 1 to 3 Req 4 Req 5 Determine the balances at December 31, 2024, in the net gain-AOCI, and prior service cost-AOCI. [Hint: You might find T- accounts useful.] Note: Enter your answers in millions. (i.e., 10,000,000 should be entered as 10). Balances on December 31, 2024 Net gain-AOCI ($ in millions) Prior service cost- AOCI < Req 1 to 3 Req 5 > Complete this question by entering your answers in the tabs below. Req 1 to 3 Req 4 Req 5 What amount will Beale report in its 2024 balance sheet as a net pension asset or net pension liability for the funded status of the plan? Note: Enter your answers in millions. (i.e., 10,000,000 should be entered as 10). Balance Sheet as of 2024 million < Req 4 Req 5 >