3. A partially completed pension spreadsheet showing therelationships among the elements that constitute Carney, Inc.’sdefined benefit pension plan follows. At theend of 2018, Carney revised its pensionformula and incurred a prior service cost of $100 million. At theend of 2019, the pension formula wasamended again, creating an additional prior service cost of $200million. At the beginning of 2020, $400million prior service cost was incurred. At thebeginning of 2021, $300 million priorservice cost was incurred. In 2018 - 2021, the actuary’s discountrate remained 10%, and the average remaining service life of theactive employee group remained 10 years. The expected rate ofreturn on assets was 10% in 2019, and increased by 1% eachyear.

1. Fill in blanks in the 2021 pension spreadsheet.

2021 Pension spreadsheet ($ in millions)	(PBO)	Plan Assets	Prior Service Cost–AOCI	Net Loss (Gain) –AOCI	Pension Expense	Cash	Net Pension (Liability) / Asset
Balance, Jan. 1, 2021							2,224
Service cost	(1,095)
Interest cost
Prior Service Cost
Expected return on assets
Adjust for: Gain (loss) on assets
Amortization of: "Prior service cost-AOCI"
Amortization of: "Net Loss (Gain)-AOCI"
Gain (Loss) on PBO
Cash funding							1,300
Retiree benefits	1,200	(1,200)
Bal., Dec. 31, 2021					442		3,176

2020 Spreadsheet

2020 Pension spreadsheet ($ in millions)	(PBO)	Plan Assets	Prior Service Cost–AOCI	Net Loss (Gain) –AOCI	Pension Expense	Cash	Net Pension (Liability) / Asset
Balance, Jan. 1, 2020	-20550	22450	290	-3100			1,900
Service cost	-900				900		-900
Interest cost	-2095				2095		-2095
Prior Service Cost	-400		400				-400
Expected return on assets		2,470			-2,470		2,470
Adjust for: Gain (loss) on assets		449		-449			449
Amortization of: "Prior service cost-AOCI"			-29		29
Amortization of: "Net Loss (Gain)-AOCI"				-105	105
Gain (Loss) on PBO	-400			400			-400
Cash funding		1200				-1,200	1,200
Retiree benefits	1,100	-1100
Bal., Dec. 31, 2020	-23245	25469	661	-3254	659		2,224