Compute the amount to be reported on the income statement as pension expense for the year.
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Lorien Company reports the following pension information for 2003:
Pension-related interest cost for the year .
$80,000
Pension fund assets, end of year
$925,000
Pension obligation liability, end of year . .
870,000
Pension service cost for the year
75,000
Return on pension fund assets for the year.
100000.00
1. What pension amount would Lorien report on its balance sheet as of the end of the year?
2. Compute the amount to be reported on the income statement as pension expense for the year.
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