Problem 20-7 Indigo Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2017, the following balances related to this plan. Plan assets (market-related value) $564,000 Projected benefit obligation 751,000 Pension asset/liability 187,000 Cr. Prior service cost 74,000 Net gain or loss (debit) 97,000 As a result of the operation of the plan during 2017, the actuary provided the following additional data for 2017. Service cost for 2017 $97,000 Settlement rate, 9%; expected return rate, 10% Actual return on plan assets in 2017 45,000 Amortization of prior service cost 28,000 Contributions in 2017 123,000 Benefits paid retirees in 2017 85,000 Average remaining service life of active employees 10 years Using the preceding data, compute pension expense for Indigo Corp. for the year 2017 by preparing a pension worksheet that shows the journal entry for pension expense. (Enter all amounts as positive.) INDIGO CORP. Pension Worksheet2017 General Journal Entries Memo Record Items Annual Pension Expense Cash OCIPrior Service Cost OCI Gain/ Loss Penison Asset/ Liability Projected Benefit Obligation Plan Assets Balance, Jan. 1, 2017 $ $ $ $ $ $ $ Service cost Interest cost Actual return Unexpected loss Amortization of PSC Amortization of loss Contributions Benefits Journal entry for 2017 $ $ Accumulated OCI, Dec. 31, 2016 Balance, Dec. 31, 2017 $ $ $ $ $ Use the market-related asset value to compute the expected return and for corridor amortization. Expected return $ Corridor amortization $