+1 (218) 451-4151
glass
pen
clip
papers
heaphones

The following information pertains to Labrador, Inc.’s definedbenefit pension plan ($ in 000s): 12/

The following information pertains to Labrador, Inc.’s definedbenefit pension plan ($ in 000s): 12/

The following information pertains to Labrador, Inc.’s definedbenefit pension plan ($ in 000s):12/31/2014Projected benefit obligation (PBO)$         1,900Plan assets$         1,692Prior service cost (PSC) – AOCI$           180Net loss – AOCI$           440At the end of 2014, Labrador made a cash contribution to thepension fund and paid retiree benefits.Cash contributions to plan assets$         166Benefits paid to retirees$         194There were no changes in   actuarial estimates andassumptions regarding the PBO.    Expected return on plan assets10%    Actuarial discount rate9%Instructions:Compute each of the following, showing supportingcomputations:1. What is the 2014 service cost for Labrador’s plan?2. What is Labrador’s 2014 actual return on plan assets?3. What is Labrador’s 2014 gain or loss on plan assets?4. What is the 2014 pension expense for Labrador’s plan?