The following information pertains to Lee Corp.'s defined benefit pension plan for year 1
Service cost $160,000
Actual and expected gain on plan assets 35,000
Unexpected loss on plan assets related to a year 1 disposal of a subsidiary 40,000
Amortization of unrecognized prior service cost 5,000
Annual interest on pension obligation 50,000
What amount should Lee report as pension cost in its year 2 income statement?
Answer
$180,000
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