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Question - For Warren Corporation, year-end plan assets were $2,144,800. At the beginning of the year, plan assets were $1,755,200. During the year, contributions to the pension fund were $120,000, and benefits paid were $200,000. Compute Warren's actual return on plan assets.
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Net income is not affected by every transaction. In some cases only one column may be affected because all of the specific accounts affected by the transaction are included in that category.
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