E20.7 (LO 1, 2, 3) Excel (Basic Pension Worksheet) The following defined pension data of Rydell Corp. apply to the year 2020. Q&A Projected benefit obligation, 1/1/20 $560,000 (before amendment) Plan assets, 1/1/20 546,200 Pension liability, 1/1/20 13,800 On January 1, 2020, Rydell Corp., through plan amendment, grants prior service benefits having a present value of 120,000 Settlement rate 9% Service cost 58,000 Contributions (funding) 65,000 Actual (expected) return on plan 52,280 assets Benefits paid to retirees 40,000 Prior service cost amortization for 2020 17,000 Instructions For 2020, prepare a pension worksheet for Rydell Corp. that shows the journal entry for pension expense and the year-end balances in the related pension accounts. F20 8 (104) Annlication of the Corridor Annroach) Kenseth Corn has the Page 2 of 1596