Problem 4 Luxor Corporation instituted a defined benefit plan. As of January 1, 2018 the plan had the following balances. Plan Assets Projected Benefit Obligation S 2,100,000 2,470,000 Activity in the plan for the years 2018 through 2020 2018 2019 20 20 Service Cost 99,000 114,000 122,000 Settlement Rate 7% 7% 8% 6% Return on Assets 6% 6% Funding 180,000 190,000 200,000 Actual Assets return on 135,000 65,000 119,000 9.6 Yr Average Service Life 9.1Yr 8.7Yr Plan Amendment (Increase In Plan Benefits Effective On 1/1/19) 210,000 Retiree Benefits 20,000 22,000 25, Required: Perform the following with regard to the Luxor pension plan. 1. Calculate the pension expense for 2018, 2019 and 2020. 2. Prepare appropriate pension liability entries for 2018, 2019 and 2020