Lacy Construction has a noncontributory, defined benefit pension plan. At December $31,2024,$ Lacy received the following information:

The expected long$-$term rate of return on plan assets was $\backslash (10\backslash \%\backslash ).$ There were no AOCI balances related to pensions on January $1,2024.$ At the end of $2024,$ Lacy amended the pension formula creating a prior service cost of $\backslash (\backslash$$ $12\backslash )$ million.

Required:

$1.$ Determine Lacy's pension expense for $2024.$

$2.$ Prepare the journal entry$($s$)$ to record Lacy's $($a$)$ pension expense, $($b$)$ gains or losses, $($c$)$ prior service cost, $($d$)$ funding, and $($e$)$ payment of retiree benefits for $2024.$