Exercise $17-19($Static$)$ Record pension expense, funding, and gains and losses; financial statement effects $[$LO$17-6,17-7,17-8]$

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 avallable:

Required:

$1.$ to $3.$ Prepare the journal entries required for the pension during $2024.$

$4.$ Determine the balances at December $31,2024,$ in the net gain$-$AOCl, and prior service cost$-$AOCl. $[$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? $(1)$ Record the pension expense.

$2$ Record the gain on PBO.

$3$ Record the loss on plan assets.

$4$ Record the funding of plan assets.

$5$ Record the payment of benefits.

Net gain$-$AOCl

Prior service cost$-$AOCl 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 $10).$