The following incomplete (columns have missing amounts) pension spreadsheet is for Old Tucson Corporation (OTC).

($ in millions) debit (credit)	PBO			Plan assets				Prior service cost				Net (Gain) loss				Pension Expenses				Cash				Net Pension (Liability)/ Asset
Beginning Balance	(530	)											67
Service cost																	71
Interest cost
Expected return on assets																	(26	)
Gain/loss on assets													(3.50	)
Amortization of:
Prior service cost									(9	)
Net gain loss
Loss on PBO	(28	)											28
Contribution to funds																					(65	)
Retiree benefits paid	49				(49	)
Ending balance	(610	)			306				63				87												(304	)

What was the balance of the net pension asset/liability reported in the balance sheet at the end of the previous year?

Multiple Choice

• Net pension asset of $269.50 millions.

• Net pension liability of $269.50 millions.

• Net pension liability of $481.00 millions.

• Net pension asset of $481.00 millions.