The following information relates to Hatami Company's defined benefit pension plan during the current reporting year:
Plan Asset at fair value January 1 600,000,000
Expected return on plan assets 50,000,000
Actual return on plan assets 40,000,000
Contribution to pension fund 90,000,000 year end
Amortization of net loss 0
Pension benefit paid out at year end 32,000,000
Pension exp 60,000,000
Required:
Determine the balance of pension plan assets at fair value on December 31.