The following incomplete (columns have missing amounts) pension spreadsheet is for Old Tucson Corporation (OTC)....
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Accounting
The following incomplete (columns have missing amounts) pension spreadsheet is for Old Tucson Corporation (OTC).
| ($ in millions) Debit(Credit) | PBO | Plan Assets | Prior Service Cost | Net (Gain)Loss | Pension Expense | Cash | Net Pension (Liability)/Asset |
|---|---|---|---|---|---|---|---|
| Beginning balance | (530) | 67 | |||||
| Service cost | 71 | ||||||
| Interest cost | |||||||
| Expected return on assets | (26) | ||||||
| Gain/loss on assets | (2) | ||||||
| Amortization of: | |||||||
| Prior service cost | (9) | ||||||
| Net gain/loss | |||||||
| Loss on PBO | (28) | 28 | |||||
| Contributions to fund | (26) | ||||||
| Retiree benefits paid | 49 | (49) | |||||
| Ending balance | (610) | 306 | 63 | 87 | (304) |
What was the prior service cost at the beginning of the year?
$54 million
$72 million
$63 million
$65 million
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