Exercise $17-20($Algo$)$ Pension spreadsheet $[$LO$17-8]$

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 available:

Projected Benefit Obligation$($$ in millions$)$Balance$,$ January $1,2024$$ $680$Service cost$70$Interest cost, discount rate, $5\%34$Gain due to changes in actuarial assumptions in $2024(18)$Pension benefits paid$(34)$Balance$,$ December $31,2024$$ $732$

Plan Assets$($$ in millions$)$Balance$,$ January $1,2024$$ $740$Actual return on plan assets$44($Expected return on plan assets, $$49)$Cash contributions$85$Pension benefits paid$(34)$Balance$,$ December $31,2024$$ $835$

January $1,2024,$ balances:$($$ in millions$)$Pension asset$ $60$Prior service cost$$AOCI $($amortization $$6$ per year$)30$Net gain$$AOCI $($any amortization over $10$ years$)124$

Required:

Prepare a pension spreadsheet to show the relationship among the PBO, plan assets, prior service cost, the net gain, pension expense, and the net pension asset.

Note: Enter credit amounts with a minus sign and debit amounts with a positive sign. Enter your answers in millions $($i$.$e$.,10,000,000$ should be entered as $10).$

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