ABC Corporation has the following information available conc…
ABC Corporation has the following information available concerning its defined-benefit pension plan for 2025. Service cost $45,000 Prior service cost in 2025 due to plan changes 100,000 Annual contribution to the plan 60,000 Amortization of prior service cost – OCI 40,000 Interest cost 57,000 Actual return on plan assets 28,000 Expected return on plan assets 26,000 Amortization of asset gains and losses – OCI 5,000 Actuarial loss in 2025 due to changes in assumptions 50,000 Benefits paid to retirees 120,000 Required: Compute ABC’s 2025 pension expense.