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Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2021 (the end of Beale's fiscal year), the following pension-related data were available: Projected Benefit obligation ($ in millions) Balance, January 1, 2021 $ 780 Service cost Be Interest cost, discount rate, 5X 39 Gain due to changes in actuarial assumptions in 2821 (23) Pension benefits paid (39) Balance, December 31, 2021 $ 837 ($ in millions) $ see 49 Plan Assets Balance, January 1, 2021 Actual return on plan assets (Expected return on plan assets, $54) Cash contributions Pension benefits paid Balance, December 31, 2021 90 (39) $ 900 January 1, 2021, balances: Pension asset Prior service cost-AOCI (amortization $9 per year) Net gain-AOCI (any amortization over 10 years) ($ in millions) $20 45 120 Required: 1. to 3. Prepare the 2021 Journal entries to record pension expense to record any 2021 gains and losses and the contribution to plan assets and benefit payments to retirees. 4. Determine the balances at December 31, 2021. In the PBO. plan assets, the net galin-AOCI, and prior service cost-AOCI [Hint: You might find T-accounts useful.] 5. What amount will Beale report In Its 2021 balance sheet as a net pension asset or net pension liability for the funded status of the plan? Journal entry worksheet

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