please help The accountant for Marlin Corporation has developed the following information for...
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The accountant for Marlin Corporation has developed the following information for the company's defined benefit pension plan for 2020 and 2021: Account 2020 Account 2020 2021 Annual Service cost $1,000,000 $1,200000 Actual return on plan assets 500,000 600,000 Amortization of prior service cost 250,000 230,000 Annual contribution to the plan 1,050,000 1,230000 Benefits paid to retirees 1,220,000 1,500,000 Settlement rate 5% 5% Expected rate of return on plan assets 10% 9% The projected benefit obligation on December 31, 2021, amounted to $8,750,000. Instructions (a) Using the above information for Marlin Corporation, complete the pension worksheet for 2020 and 2021. Calculated amounts should be supported. (b) Prepare the journal entry (entries) to reflect the accounting for the company's pension plan for the year ending December 31, 2020 and 2021. () Determine whether there will be any net gains/losses amortization for 2022 using the corridor approach. (d) Indicate the pension-related accounts and amounts reported in the financial statements (both income statement and balance sheet statement) for 2021
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