E20-4 (LOI,2) (Basic Pension Worksheet) The following facts apply to the pension plan of Boudreau Inc. for the year 2017. Plan assets, January 1,2017 Projected benefit obligation, January 1,2017 Settlement rate Service cost Contributions (funding) Actual and expected return on plan assets Benefits paid to retirees $490,000 490,000 8% 40,000 25,000 49,700 33,400 Instructions Using the preceding data, compute pension expense for the year 2017. As part of your solution, prepare a pension that shows the journal entry for pension expense for 2017 and the year-end balances in the related pension accounts worksheet