The accountant for Marlin Corporation has developed the following information for the company's defined-benefit pension plan for 2015:
|
Service cost
|
$485,000
|
|
Actual return on plan assets
|
906,000
|
|
Annual contribution to the plan
|
904,000
|
|
Amortization of prior service cost
|
123,800
|
|
Benefits paid to retirees
|
51,000
|
|
Settlement rate
|
10%
|
|
Expected rate of return on plan assets
|
8%
|
The accumulated benefit obligation at December 31, 2015, amounted to $3,250,000. Accumulated OCI (PSC) at December 31, 2014 is $619,000. Projected benefit obligation and plan assets at December 31, 2014 are 3,940,000 and 2,700,000 respectively,
a. Using the above information for Marlin Corporation, complete the pension work sheet for 2015.