Micro Computers Inc. sponsors a defined benefit pension plan for its employees. It is now the $20$X$2$ fiscal year. Long$-$term corporate borrowing rates for companies with this risk profile are $6\%.$ Information with respect to the pension plan is as follows:Calculate the SFP net defined benefit pension llability as of $31$ December $20x1.$

Net defined beneft pension liability, $31$ December $20$X$1$

Calculate the net defined benefit pension liability as of $31$ December $202$ by calculating the defined benefit obligation and the falr

value of plan assets at $31$ December $202.$

Analyze the three elements of pension accounting for $202$ service cost, net interest, and remeasurements. Prepare entrles, and

iso an entry for the contribution to the fund during $20$X$2($If no entry is required for a transaction$/$event$,$ select $"$No journal entry

required" in the first account field. Round your answers to nearest whole dollar.$)$

View tranaaction riat

$1$ Record the service cost for $202.$

$2$ Record the net interest for $202.$

$3$ Record experience loss on assets.

Record actuarial loss due to change in assumptions.

Record the contribution to the fund for $202.$

Current service cost for $20$X$2$ $ $193,200$

Fair value of plan assets, $31$ December $20$X$12,026,000$

Benefits paid to retirees during $20$X$2232,900$

Funding payment at $31$ December $20$X$2444,000$

Defined benefit obligation, $31$ December $20$X$13,050,000$

Past service cost from amendment dated $1$ January $20$X$2$; liability is reduced because benefits were reduced. $(125,500)$

Actuarial revaluation dated $31$ December $20$X$2$; liability is increased because of changed salary increase assumptions. $382,700$

Actual return on plan assets for $20$X$2($loss$)(113,800)$

Required:

$1.$ Calculate the SFP net defined benefit pension liability as of $31$ December $20$X$1.$

$2.$ Calculate the net defined benefit pension liability as of $31$ December $20$X$2$ by calculating the defined benefit obligation and the fair value of plan assets at $31$ December $20$X$2.$

$3.$ Analyze the three elements of pension accounting for $20$X$2$: service cost, net interest, and remeasurements. Prepare entries, and also an entry for the contribution to the fund during $20$X$2.($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Round your answers to nearest whole dollar.$)$

$4-$a$.$ Calculate the SFP net defined benefit pension liability as of $31$ December $20$X$2,$ reflecting requirement $1$ and the entries in requirement $3.($Round your answers to nearest whole dollar.$)$