Question #$1$

Alp Inc. started to offer a defined contribution pension plan for its employees in $2023,$ which requires Alp to contribute $5\%$ of employees gross salary to a fund trustee each year, within a month after the end of the year. When the plan was established in $2023,$ Alp agreed to recognize certain employee services that were provided prior to the $2023,$ which resulted in past service costs of $$356,970.$ Both ASPE and IFRS generally require past service cost be recognized immediately in expense. Alp's total payroll for $2023$ and $2024$ were $$2,456,000$ and $$2,667,800,$ respectively.

Required:

Determined Alp's pension expense for $2023$ and $2024.$

Prepare all necessary journal entries during $2024.$

How is the pension reflected in Alp's income come statement, balance sheet, and statement of cash flows $($assume the direct method$)$ for $2024?$