Pension data for Sam Adams Inc. include the following for the current calendar year: Discount rate, 10% Expected return on plan assets, 12% Actual return on plan assets, 11% Service cost, $370,000 January 1: PBO ABO $2,970,000 1,970,000 Plan assets Amortization of prior service cost 3,170,000 27,000 Amortization of net gain 6, 700 December 31: Cash contributions to pension fund Benefit payments to retirees $ 272,000 307,000 Required: 1. Determine pension expense for the year. 2. Prepare the journal entries to record pension expense and funding for the year. Complete this question by entering your answers in the tabs below