Question: Hicks Cable Company has a defined benefit pension plan. Three alternative possibilities for pension-related data at January 1,2024 , are shown below: Required: 1. For

 Hicks Cable Company has a defined benefit pension plan. Three alternativepossibilities for pension-related data at January 1,2024 , are shown below: Required:

Hicks Cable Company has a defined benefit pension plan. Three alternative possibilities for pension-related data at January 1,2024 , are shown below: Required: 1. For each independent case, calculate any amortization of the net loss or gain that should be included as a component of pension expense for 2024. 2. For each independent case, determine the net loss-AOCl or net gain-AOCl as of January 1,2025. Complete this question by entering your answers in the tabs below. For each independent case, determine the net loss-AOCI or net gain-AOCI as of January 1, 2025. Note: Amounts to be deducted should be indicated by a minus sign. Enter your answer in thousands (i.e., 10,000 should be entered as 10 ). Actuary and trustee reports indicate the following changes in the PBO and plan assets of Mahomes Industries during 2024 : Prior service cost at January 1, 2024, from plan amendment at the beginning of 2021 (amortization: $4 million per year) 28 million Net loss-AOCI at January 1,2024 (previous losses exceeded previous gains) 80 million Average remaining service life of the active employee group 10 Actuary's discount rate Required: 1-a. Determine Mahomes's pension expense for 2024. 1-b, 2. to 4. Prepare the appropriate journal entries to record the pension expense, to record any 2024 gains and losses, to record cash contribution to plan assets and to record retiree benefits. Complete this question by entering your answers in the tabs below. Determine Mahomes's pension expense for 2024. Note: Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10 )

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