help witb req. 1 and 3

Electronic Distribution has a defined benefit pension plan. Characteristics of the plan during 2021 are as follows: PBO balance, January 1 Plan assets balance, January 1 Service cost Interest cost Gain fron change in actuarial assumption Benefits paid Actul turn on plaassets Contributions 2021 ($ dillons) $ 568 450 65 45 20 (52) 29 55 The expected long term rate of return on plan assets was 8%. There were no AOCI balances related to pensions on January 1, 2021, but at the end of 2021 the company amended the pension formula, creating a prior service cost of $12 million. Assume Electronic Distribution prepares its financial statements according to International Financial Reporting Standards (IFRS). Also assume that 10% the current interest rate on high-quality corporate bonds Required: 1. Calculate the net pension cost for 2021. separating its components into appropriate categories for reporting 2. Prepare the journal entries to record in the components of net pension cost. (bigains or losses, (c) post service cost. (d) Funding and le) payment of benefits for 2021. 3. What amount wil Electronic Distribution reportint 2021 balance sheet oss net pension esset or net pension lability Complete this question by entering your answers in the tabs below. Red Required Calculate the net pension cost for 2021, separating its components into appropriate categories for reporting. (Enter your answers in misioni 10.000.000 should be creed as 10). Enter credit amounts with a minus sign and debit amounts with a positive 19 in ons Reported in Income statement Post S06 Sorvice cost 2021 Sorocco Netto Roported ac OCE: Roro Santos son change OC Honorans OCI terson Required 2 > Electronic Distribution has a defined benefit pension plan Characteristics of the plan during 2021 are as follows. (5 millions) $ 560 450 Po balance, January 1 Plan assets balance, January 1 Service cost Interest cost Gain from change in actual assumption Benefits pald Actual return on plan assets Contributions 2021 65 45 20 (52) 29 55 The expected long term rate of return on plan assets was 8%. There were no AOCI balances related to pensions on January 1, 2021. but at the end of 2021, the company amended the pension formula, creating a prior service cost of $12 million. Assume Electronic Distribution prepares its financial statements according to International Financial Reporting Standards (IFRS). Also assume that 10% is the current interest rate on high-quality corporate bonds. Required: 1. Calculate the net pension cost for 2021. separating its components into appropriate categories for reporting, 2. Prepare the journal entries to record (a) the components of net pension cost. (bigains or losses, (c) past service cost, (c) funding, and (e payment of benefits for 2021. 3. What amount will Electronic Distribution report in its 2021 balance sheet as a net pension asset or net pension liability? Answer is not complete. Complete this question by entering your answers in the tabs below, Required: Required 2 Required What amount will Electronic Distribution report in its 2021 balance sheet as a net pension asset or net pension liability? (Enter your answers in millions ( 10.000.000 should be entered as 10.) Net pensionability 3 286 million (Required 2