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(Computation of Actual Return, Gains and Losses, Corridor Test, and Pension Expense) Erikson Company sponsors a defined benefit pension plan. The corporation's actuary provides the following information about the plan. January 1 December 31 2010 2010 Vested benefit obligation $1,905 $2,413 Accumulated benefit obligation 2,413 3,467 Projected benefit obligation 3,175 4,191 Plan assets (fair value) 2,159 3,327 Settlement rate and expected rate of return 10% Pension asset/liability 1,016 ? Service cost for the year 2010 508 Contributions (funding in 2010) 889 Benefits paid in 2010 254 (If answer is zero, please enter a 0, do not leave any fields blank)
(a) Compute the actual return on the plan assets in 2010. (b) Compute the amount of the other comprehensive income (G/L) as of December 31, 2010. (Assume the January 1, 2010, balance was zero.) (c) Compute the amount of net gain or loss amortization for 2010 (corridor approach). (d) Compute pension expense for 2010.
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