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[The following information applies to the questions displayed below.] Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2021:

Prior service cost at Jan. 1, 2021, from plan amendment at the beginning of 2019 (amortization: $4 million per year)	$	32	million
Net loss-pensions at Jan.1, 2021 (previous losses exceeded previous gains)	$	40	million
Average remaining service life of the active employee group		10	years
Actuarys discount rate		8	%

($ in millions)

	PBO				Plan Assets
Beginning of 2021	$	300		Beginning of 2021		$	200
Service cost		48
Interest cost, 8%		24		Return on plan assets, 7.5% (10% expected)			15
Loss (gain) on PBO		(2	)	Cash contributions			45
Less: Retiree benefits		(20	)	Less: Retiree benefits			(20	)
End of 2021	$	350		End of 2021		$	240

Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Cable during 2022: ($ in millions)

	PBO				Plan Assets
Beginning of 2022	$	350		Beginning of 2022		$	240
Service cost		38
Interest cost at 8%		28		Return on plan assets, 15% (10% expected)			36
Loss (gain) on PBO		5		Cash contributions			30
Less: Retiree benefits		(16	)	Less: Retiree benefits			(16	)
End of 2022	$	405		End of 2022		$	290

A. Determine the new gains and/or losses in 2021 and prepare the appropriate journal entry(s) to record them. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

Record the losses.

Record the gains.

B. Prepare a pension spreadsheet to assist you in determining end of 2021 balances in the PBO, plan assets, prior service costAOCI, the net lossAOCI, and the pension liability. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Enter credit amounts with a minus sign and debit amounts with a positive sign.)

C. Determine the new gains and/or losses in 2022, and prepare the appropriate journal entry(s) to record them. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

D-i. Determine Lakesides pension expense for 2022.

D-ii. Prepare the appropriate journal entries to record the expense, the cash funding of plan assets, and payment of benefits to retirees.

E. Prepare a pension spreadsheet to assist you in determining end of 2022 balances in the PBO, plan assets, prior service costAOCI, the net lossAOCI, and the pension liability. (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). Enter credit amounts with a minus sign and debit amounts with a positive sign.)

Journal entry worksheet Record the pension expense. Notes Enter debite before credits General Journal Debit Credit Transaction 1 Record entry Clear entry View general journal Journal entry worksheet 1 2 3 Record funding to plan assets. Notes Enter debits before credits. Transaction 2 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet Record the payment of benefit to retirees. Note: Enter debits belore eredits General Journal Debit Credit Transaction 3 Record entry Clear entry View general journal (s in millions) PBO Plan Assets Prior Service Cost-AOCI Net Loss -AOCI Pension Expense Cash Net Pension (Liability) Asset Bal., Jan 1, 2022 Service cost Interest cost, 8% Expected return on assets Gain on assets Amortization of Prior service cost-AOCI Net loss-AOCI Loss on PBO Cash contributions Retiree benefits Bal., Dec. 31, 2022 0.0 0.0 0.0 0.0 0.0 0.0