Reference no: EM132734892

Question - Vaughn Enterprises provides the following information relative to its defined benefit pension plan.

Balances or Values at December 31, 2020

Projected benefit obligation $2,726,600

Accumulated benefit obligation 1,982,100

Fair value of plan assets 2,293,300

Accumulated OCI (PSC) 208,700

Accumulated OCI-Net loss (1/1/20 balance, 0) 45,700

Pension liability 433,300

Other pension plan data for 2020:

Service cost $94,700

Prior service cost amortization 42,100

Actual return on plan assets 129,100

Expected return on plan assets 174,800

Interest on January 1, 2020, projected benefit obligation 252,800

Contributions to plan 93,100

Benefits paid 138,800

Required - Prepare the note disclosing the components of pension expense for the year 2020.