Reference no: EM132203621
Tommy Hill records shows the information below as part of it's defined benefit pension plan:
Plan assets at fair value, January 1, 2012 $3,000,000
Expected return on plan assets in 2012 $300,000
Actual return on plan assets in 2012 $200,000
Contributions to the pension funds in 2012 $500,000
Pension benefits paid in 2012 $520,000
Current service costs $360,000
What is the fair value of the pension plan assets on December 31, 2012?