Please answer ASAP, in hand w

Pension Question $(35$ marks$)$ Arielle Inc. has had a defined benefit pension plan since January $1,2020.$

The following represents beginning balances as at January $1,2024$:

Plan Asset $$1,255,300$; Defined Benefit Obligation $$1,388,000$; Net Pension Liability $$132,700,$

AOCI $-$ loss of $$45,600$

Additional Information is as follows for $2024$:

Current Service cost is $$275,000$ for $2024$

Company Funding$/$Contribution is $$290,000$ for $2024.$ Funding is made on December $31.$

Actual return on assets is $$69,200$ for $2024.$

On December $31,2024,$ there is an increase in obligation of $$43,000$ due to changes in Actuarial

assumptions about years of service.

There are payments made equal to $$84,500$ to retired employees in $2024($payments to retirees are

made at the end of the year on December $31).$

There is a Past service cost of $$81,600$ from plan amendment dated January $1,2024$ : liability is increased

because benefits were increased on a retroactive basis.

For $2024,$ the assumed interest rate is $5\%.$ Assume IFRS.

Required:

Determine Defined Benefit Obligation, Pension Asset, Pension Expense, AOCI, and Net

Pension Asset$/$Liability for $2024.$ Prepare a spreadsheet to determine all these pension items.

$(20$ marks$)$

Prepare the required journal entries for $2024(8$ marks$)$

Prepare a partial balance sheet and a partial income statement for $2024($including proper

titles$)(5$ marks$)$

Record $5$ of the required note disclosures for $2024(2$ marks$)$