Carla Vista Corp. sponsors a defined-benefit pension plan for its employees. On January 1, 2021, the following balances related to this plan. Plan assets (fair value) $640,000
Projected benefit obligation 690,000
Pension asset/liability 50,000
Cr. Prior service cost 84,000
OCI - Loss 74,000

As a result of the operation of the plan during 2021, the actuary provided the following additional data at December 31, 2021.

Service cost for 2021 $79,000
Actual return on plan assets in 2021 52,380
Amortization of prior service cost 22,200
Contributions in 2021 124,000
Benefits paid retirees in 2021 89,000
Settlement rate 7%
Expected return rate 8%

Average remaining service life of active employees 10 years.

Required:
Compute pension expense for Carla Vista Corp. for the year 2021 by preparing a pension worksheet.

The following data were taken from the records of clarkson company for the fiscal year ended june 30, 2017. raw materials inventory 7/1/16 $58,100 factory insurance $4,800 raw materials inventory 6/30/17 46,600 factory machinery depreciation 17,100 finished goods inventory 7/1/16 99,700 factory utilities 29,400 finished goods inventory 6/30/17 21,900 office utilities expense 9,350 work in process inventory 7/1/16 21,200 sales revenue 560,500 work in process inventory 6/30/17 29,400 sales discounts 4,700 direct labor 147,550 plant manager’s salary 63,400 indirect labor 25,360 factory property taxes 9,910 accounts receivable 28,000 factory repairs 2,500 raw materials purchases 97,300 cash 39,200 a) prepare a cost of goods manufactured schedule (assume all raw materials used were direct materials). b) prepare an income statement through gross profit c)prepare the current assets section of the balance sheet at june 30, 2014