Problem II (20 points): Greg Inc, sponsors a defined benefit pers the following information about the plan. on plan. The corporation's actuary provides 1-Jan-2018 735,000 31-Dec-2018 880,000 Projected benefit obligation Plan assets Accumulated OCI (PSC) Settlement & expected return rate Service cost Contributions (funding) Actual return on plan assets Benefits paid to retirees 695.000 270,000 10% 210,000 240,500 158,000 230,000 Average service life of all covered employees in years Instructions: (a) For 2018, prepare a pension wor balances in the related pension accounts (15 points). spare a pension worksheet that shows the journal entry for pension expense and the year-end Pension Worksheet General Journal Entries Memo Record Items Balance, Jan. 1, 2018 | rnal entry - 2018 epare the journal entry for pension expense for 2018 (5 points). Problem II (20 points): Greg Inc, sponsors a defined benefit pers the following information about the plan. on plan. The corporation's actuary provides 1-Jan-2018 735,000 31-Dec-2018 880,000 Projected benefit obligation Plan assets Accumulated OCI (PSC) Settlement & expected return rate Service cost Contributions (funding) Actual return on plan assets Benefits paid to retirees 695.000 270,000 10% 210,000 240,500 158,000 230,000 Average service life of all covered employees in years Instructions: (a) For 2018, prepare a pension wor balances in the related pension accounts (15 points). spare a pension worksheet that shows the journal entry for pension expense and the year-end Pension Worksheet General Journal Entries Memo Record Items Balance, Jan. 1, 2018 | rnal entry - 2018 epare the journal entry for pension expense for 2018 (5 points)