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Stanley-Morgan Industries adopted a defined benefit pension plan on April 12, 2016. The provisions of...

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Stanley-Morgan Industries adopted a defined benefit pension plan on April 12, 2016. The provisions of the plan were not made retroactive to prior years. A local bank, engaged as trustee for the plan assets, expects plan assets to earn a 10% rate of return. A consulting firm, engaged as actuary, recommends 5% as the Required: Calculate each of the following amounts as of both December 31, 2016, and December 31, 2017: (Enter your answers in thousands fi.e., 200,000 should be entered as 200).) December 31, 2016 December 31, 2017 2. Plan assets 4. Net pension asset or net pension liability

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