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Business, 31.10.2019 02:31 zlittleton2008

Stanley-morgan industries adopted a defined benefit pension plan on april 12, 2016. the provisions of the plan were not made retroactive to prior years. a local bank, engaged as trustee for the plan assets, expects plan assets to earn a 10% rate of return. a consulting firm, engaged as actuary, recommends 6% as the appropriate discount rate. the service cost is $150,000 for 2016 and $200,000 for 2017. year-end funding is $160,000 for 2016 and $170,000 for 2017. required: calculate each of the following amounts as of both december 31, 2016, and december 31, 2017: (enter you answers in thousands (i. e., 200,000 should be entered as 1. projected benefit obligation 2. plan assets 3. pension expense 4. net pension asset/liability

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