Problem 17-16 Comprehensive reporting a pension plon; pension spreadsheet; determine changes in balances; two years [LO17-3, 17-4, 17-5, 176, 177, 17-8) The following information applies to the questions displayed below) Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2018 Prior service cost at Jan. 1, 2018, from plan amendment at the beginning of 2016 (amortization: $6 million per year) Net loss pensions at Jan 1, 2018 (previous losses exceeded previous gains) Average remaining service life of the active employee group Actuary's discount rate $50 million $60 million 10 years ($ in milions) PBO Plan Assets $360 Beginning of 2018 Service cost Interest cost, 8% Loss (gain) on PBO Less: Retiree benefits End of 2018 $500 Beginning of 2018 66 Return on plan assets, 40 7.5% (10% expected) (4) Cash contributions (52) Less: Retiree benefits $550 End of 2018 (52) $400 Problem 17-16 Part 1 Required: 1-a. Determine Lakeside's pension expense for 2018. (Enter your answers in millions (ie., 10,000,000 should be entered as 10). Pension expense 2018 million 1-b. Prepare the appropriate journal entries to record the expense as well as the cash contribution to plan assets and payment of benefits to retirees? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (ie., 10.000.000 should be entered as 10).) View transaction list Journal entry worksheet