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At January 1, 2020, Crane Corporation had plan assets of $261,000 and a defined benefit obligation of the same amount based on projected costs. During 2020, the current service cost was $28,500, the discount rate on the DBO and plan assets was 10%, actual return on plan assets was $31,500, contributions by Crane were $21,000, benefits paid were $17.500, and the cost of past service benefits granted effective December 31, 2020, was $29,000. Prepare a pension work sheet for Crane Corporation for 2020 assuming that Crane follows IFRS. CRANE CORPORATION Pension Worksheet-2020 General Journal Entries Item Remeasurement (Gain) Loss (OCI) $ Annual Pension Expense $ $ > Benefits paid $ $ Expense entry > Contribution entry Bal. 12/31/20 CRANE CORPORATION Pension Worksheet-2020 General Journal Entries Annual Pension Expense Remeasurement (Gain) Loss (OCI) $ Item Benefits paid Expense entry Contribution entry Bal. 12/31/20 Memo Record Net Def. Benefit Liability/ Asset $ Cash Defined Benefit Obligation $ $ $ > > > > > > > > > >> > Memo Record Defined Benefit Obligation $ Plan Assets $ $ > > > C > > > > Benefits paid $ $ Expense entry > Contribution entry Bal. 12/31/20 CRANE CORPORATION Pension Worksheet-2020 General Journal Entries Annual Pension Expense Remeasurement (Gain) Loss (OCI) $ Item Benefits paid Expense entry Contribution entry Bal. 12/31/20 Memo Record Net Def. Benefit Liability/ Asset $ Cash Defined Benefit Obligation $ $ $ > > > > > > > > > >> > Memo Record Defined Benefit Obligation $ Plan Assets $ $ > > > C > > > >

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