I need help with required sections 1-3 on my excercise! This is using IFRS principals rather than GAAP! thank you in advance

there are multiple JEs on part 2 as follows

record service cost

record net interest cost

record gain/loss on plan assets

record gain/loss on DBO

record funding

record payment benefits.

Electronic Distribution has a defined benefit pension plan. Characteristics of the plan during 2024 are as follows: The expected long-term rate of return on plan assets was 8%. There were no AOCI balances related to pensions on January 1,2024. but at the end of 2024, the company amended the pension formula, creating a pripr 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 2024, separating its components into appropriate categories for reporting. 2. Prepare the journal entries to record (a) the components of net pension cost, (b) gains or losses, (c) past service cost, (d) funding: and (e) payment of benefits for 2024 . 3. What amount will Electronic Distribution report in its 2024 balance sheet as a net pention asset or net pension liability? Complete this question by entering your answers in the tabs below. Calculate the net pension cost for 2024, reparating iss components into appropriate categories for reponting. flotn- Enter credit amountis with a minus sign and debit amounts with a positive signis. Enter your anvwers in millions (i.e. to,000,000 should be entered as 10). \begin{tabular}{|l|l|} \hline & Reported in income statement: \\ \hline & Service cost \\ \hline Reported as OCl: & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Required 2> Prepare the journal entries to record (a) the components of net pension cost, (b) gains or losses, (c) past service cost, (d) funding, and (e) payment of benefits for 2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Show less A Journal entry worksheet Electronic Distribution has a defined benefit pension plan. Characteristics of the plan during 2024 are as follows: The expected long-term rate of return on plan assets was 8%. There were no AOCI balances related to pensions on January 1 , 2024 , but at the end of 2024, 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 2024 , separating its components into appropriate categories for reporting. 2. Prepare the journal entries to record (a) the components of net pension cost, (b) gains or losses, (c) past service cost, (d) funding. and (e) payment of benefits for 2024 . 3. What amount will Electronic Distribution report in its 2024 balance sheet as a net pension asset or net pension liability? Complete this question by entering your answers in the tabs below. What amount will Electronic Distribution report in its 2024 balance sheet as a net pension asset or net pension liability? Note: Enter your answer in millions (i.e., 10,000,000 should be entered as 10)