Problem Set II: Pension Problem Set (20 points): Crane Company adopts acceptable accounting for its defined benefit pension plan on January 1, 2016, with the following beginning balances: plan assets $197,700; projected benefit obligation $254,000. Other data relating to 3 years' operation of the plan are as follows. Annual service cost Settlement rate and expected rate of return Actual return on plan assets. Annual funding (contributions) Benefits paid Prior service cost (plan amended, 1/1/17) Amortization of prior service cost Change in actuarial assumptions establishes a December 31, 2018, projected benefit obligation of: Required: Prepare a pension worksheet for 2016, 2017, and 2018. 2016 2017 2018 $16,200 $19,300 $25,900 10% 10% 10% 17,700 21,770 23,900 16,200 40,000 48,000 13,900 16,600 20,600 162,600 54,600 41,200 515,700