He following information relates to a company’s defined benefit pension plan at december 31:

accumulated benefit obligation: $1,035,000
projected benefit obligation: 1,250,000
prior service cost: 113,000
net gain on plan assets: 167,000
plan assets (fair value): 737,000

what amount should the company report as its pension liability at december 31?

Zara, a global retail and apparel manufacturer based in spain that has successfully implemented this idea by having a continuous flow of new products that are typically limited in supply. zara has created a system that draws its clientèle into its stores, on average, 17 times per year as compared to 4 times per year for most stores. how is zara using it to gain competitive advantage? what specific technologies are used by zara to maintain this advantage over its competition?