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  3. the following defined pension data of kay-mart, ii

The following defined pension data of Kay-Mart, Iinc. app Plan Assets balance (1/1/18) Service cost...

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The following defined pension data of Kay-Mart, Iinc. app Plan Assets balance (1/1/18) Service cost Contributions to the plan Actual return on Plan Assets Expected Return on Plan assets Prior Service Cost (OCI) balance (1/1/18) Projected Benefit Obligation balance (1/1/18) Accrued Pension Liability balance (1/1/18) Prior Service Cost Amortization Settlement/Discount Rate Benefits paid to retirees $790,000 180,000 160,000 44,000 8% 75,000 800,000 10,000 14,000 10% 75,000 Instructions Complete the attached pension worksheet for Kay-Mart and show the journal entry(s) required to recognize pension costs. (The worksheet should include year- end balances for 2018) 1. Explain how the balances determined in instruction 1 would be shown in the financial statements by completing the table below. Be specific and state for each account which financial statement the account would appear (if at all) and where in the financial statements e.g. current asset, stockholder's equity 2. Which FinancialWhat Section of the Financial Statement Account Statement Pension Expense Cash Pension Liability Projected Benefit Obligation Plan Assets

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