Question: PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE. THANK YOU! Exercise 17-13 (Algo) Determining the amortization of net loss or net gain (LO17-6]

PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE. THANK YOU!

PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE. THANK YOU!Exercise 17-13 (Algo) Determining the amortization of net loss or net gain

Exercise 17-13 (Algo) Determining the amortization of net loss or net gain (LO17-6] Hicks Cable Company has a defined benefit pension plan. Three alternative possibilities for pension-related data at January 1, 2021, are shown below: Net loss (gain)-AOCI, Jan. 1 2021 loss (gain) on plan assets 2021 loss (gain) on PBO Accumulated benefit obligation, Jan. 1 Projected benefit obligation, Jan. 1 Fair value of plan assets, Jan. 1 Average remaining service period of active employees (years) ($ in thousands) Case 1 Case 2 Case 3 $ 329 $ (354) $ 269 (20) (17) (32) 25 (282) (3,040) (2,640) (1,540) (3,400) (2,760) (1,790) 2,890 2,790 1,640 - 12 15 10 Required: 1. For each independent case, calculate any amortization of the net loss or gain that should be included as a component of pension expense for 2021. 2. For each independent case, determine the net loss-AOCI or net gain-AOCI as of January 1, 2022. Complete this question by entering your answers in the tabs below. Required 1 Required 2 For each independent case, calculate any amortization of the net loss or gain that should be included as a component of pension expense for 2021. (Input all amounts as positive values.) ($ in thousands) Case 1 Case 2 $ 329 $ 354 Case 3 $ 269 Net gain or loss Less: Corridor amount Excess, if any Service period (years) Amortization of gain or loss $ 329 $ 354 $ 269 0 0 Recuired a Reguired 2 Required 1 Required 2 For each independent case, determine the net loss-AOCI or net gain-AOCI as of January 1, 2022. (Amounts to be deducted and loss amounts should be indicated by a minus sign.) Case 1 $ 329 ($ in thousands) Case 2 $ (354) Case 3 $ 269 January 1, 2021 net loss (gain) Loss (gain) on plan assets Amortization Loss (gain) on PBO January 1, 2022 net loss or (gain) - AOCI $ 329 $ (354) $ 269

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