The following information is available for a non contributory defined benefit pension plan Employee Mustaf Nybel Employer ISL Acker, ine Age at inception of plan 55 years Anticipated retirement age 68 years Duration of retirement: 12 years Annual pension plan funding: $4,500 at year-end Assumed rate of return on plan assets 9% 10% Assumed settlement rate: Employee's service prior to plan: 18 years Prior service award: 8 years Present value of prior service award: $18,158 (as of 1/1/41) Present value of prior service award: $19,974 (as of 12/31/41) $2,500 (as of 12/31/41) Service cost 71: $2,743 (as of 12/31/12) Service cost Y2 Required: 1 Calculate pension expense for year 1 and year 2 and provide the required journal entries. Submit your journal entries here in Canvas, your supporting work should be provided via your scratch paper upload. Your journal entries must tie to your supporting work 2. Prepare the GAAP required reconciliation schedule for year 1 and 2 Submit the reconciliation schedule via your scratch paper upload the information presented in your schedule must tie to your journal entries The following information is available for a non contributory defined benefit pension plan Employee Mustaf Nybel Employer ISL Acker, ine Age at inception of plan 55 years Anticipated retirement age 68 years Duration of retirement: 12 years Annual pension plan funding: $4,500 at year-end Assumed rate of return on plan assets 9% 10% Assumed settlement rate: Employee's service prior to plan: 18 years Prior service award: 8 years Present value of prior service award: $18,158 (as of 1/1/41) Present value of prior service award: $19,974 (as of 12/31/41) $2,500 (as of 12/31/41) Service cost 71: $2,743 (as of 12/31/12) Service cost Y2 Required: 1 Calculate pension expense for year 1 and year 2 and provide the required journal entries. Submit your journal entries here in Canvas, your supporting work should be provided via your scratch paper upload. Your journal entries must tie to your supporting work 2. Prepare the GAAP required reconciliation schedule for year 1 and 2 Submit the reconciliation schedule via your scratch paper upload the information presented in your schedule must tie to your journal entries