How do you work this problem? Federal Delivery Service began a defined-benefit pension plan for its employees on January 1, 2013. Pertinent data are: Projected benefit obligation, Dec. 31, 2013 $157,000 Accumulated benefit obligation, Dec. 31, 2013 148,000 Plan assets at fair value, Dec. 31, 2013 131,000 Pension expense for 2013 143,000 Employer’s cash contribution, end of 2013 131,000 What amount should Federal report in the balance sheet at December 31, 2013? a. Net pension asset of $131,000 b.Net pension liability of $157,000 c.Net pension liability of $26,000 d.Net pension liability of $46,000
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