The following information relates to Schmidt Sausage Co.'s defined benefit pension plan during the current reporting year:
Required: Determine the amount of pension plan assets at fair value on December 31.
| |
($ in millions) |
| Plan assets begiiming of the year |
$400 |
| Expected return on plan assets |
40 |
| Actual return on plan assets |
32 |
| Cash contributions |
60 |
| Amortization of net loss |
8 |
| Retiree benefits |
9 |