Actuary and trustee reports indicate the following changes in the

Actuary and trustee reports indicate the following changes in the PBO and plan assets of Douglas-Roberts Industries during 2021:

Prior service cost at Jan. 1, 2021, from plan amendment at the beginning of 2018 (amortization: $4 million per year) $28 million Net loss—AOCI at Jan. 1, 2021 (previous losses exceeded previous gains) $80 million
Average remaining service life of the active employee group 10 years
Actuary’s 7%

Required:
1. Determine Douglas-Roberts’s pension expense for 2021, and prepare the appropriate journal entry to record the expense.
2. Prepare the appropriate journal entry(s) to record any 2021 gains and losses.
3. Prepare the appropriate journal entry to record the cash contribution to plan assets.
4. Prepare the appropriate journal entry to record retiree benefits.

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