please make sure for #1 that is NET pension cost for 2018, answer is not 63 million. And also the journal entries for #2.

Lacy Construction has a noncontributory, defined benefit pension plan. At December 31, 2018. Lacy received the following information: Projected Benefit Obligation (S in millions) Balance, January 1 $360 Service cost 60 Prior service cost 12 Interest cost (7.5%) 27 Benefits paid (37) Balance, December 31 $422 Plan Assets [5 in millions] Balance, January 1 $240 Actual return on plan assets 27 Contributions 2018 60 Benefits paid (3?) Balance, December 31 $290 The expected longterm 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 nancial statements according to International Financial Reporting Standards and that the actuary's discount rate is the rate on high quality corporate bonds. Required: 1. Determine Lacy's net pension cost for 2018. 2. Prepare thejournal entry(s} to record Lacy's net pension cost. gains or losses. prior service cost, funding, and payment of retiree benefits for 2018