Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2016 (the end of Beale's fiscal year), the following pension-related data were available:

Projected Benefit Obligation	($ in millions)
Balance, January 1, 2016	$	700
Service cost		72
Interest cost, discount rate, 5%		35
Gain due to changes in actuarial assumptions in 2016		(19	)
Pension benefits paid		(35	)
Balance, December 31, 2016	$	753

Plan Assets	($ in millions)
Balance, January 1, 2016	$	720
Actual return on plan assets		45
(Expected return on plan assets, $50)
Cash contributions		86
Pension benefits paid		(35	)
Balance, December 31, 2016	$	816

January 1, 2016, balances:	($ in millions)
Pension asset	$	20
Prior service costAOCI (amortization $7 per year)		35
Net gainAOCI (any amortization over 10 years)		112

(For all requirements, enter your answers in millions. (i.e., 10,000,000 should be entered as 10).)

Required:

1. to 3.

Prepare the 2016 journal entry to record pension expense, to record any 2016 gains and losses and the contribution to plan assets and benefit payments to retirees. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal Entry for #5 Record the change in the PBO.

4.	Determine the balances at December 31, 2016, in the PBO, plan assets, the net gainAOCI, and prior service costAOCI [Hint: You might find T-accounts useful.]

5.	What amount will Beale report in its 2016 balance sheet as a net pension asset or net pension liability for the funded status of the plan?