Lacy Construction has a noncontributory, defined benefit pension plan. At December 31, 2018, Lacy received the following information Projected Benefit obligation (S in millions) S 360 Balance, January 1 Service cost Prior service cost Interest cost (7.5%) Benefits paid Balance, December 31 60 12 27 (37) $ 422 Plan Assets (S in millions) $ 240 Balance, January 1 Actual return on plan assets Contributions 2018 Benefits paid Balance, December 31 27 60 (37) S290 The expected long-term rate of return on plan assets was 10%. There were no AOCI balances related to pensions on January 1, 2018 At the end of 2018, Lacy amended the pension formula creating a prior service cost of $12 million Assume Lacy Construction prepares its financial statements according to International Financial Reporting Standards and that thee actuary's discount rate is the rate on high quality corporate bonds. Required 1. Determine Lacy's net pension cost for 2018 2. Prepare the journal entry(s) to record Lacy's net pension cost, gains or losses, prior service cost, funding, and payment of retiree benefits for 2018