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The following data pertains to a defined benefit penion plan:

Defined benefit obligation, Dec 31, 2015                                                                     25,000

Long-term interest rate on corporate bonds                                                                   10%

Past service cost, Dec 31, 2016, benefits and liability reduced                                   (1,200)

Actuarial revaluation, Dec 31, 2016, change in mortality assumptions, increased liability  600

Actual return on plan assets – 2016                                                                                2,100

Fair value of plan assets, Dec 31, 2015                                                                        16,000

Funding payment at Dec 31, 2016                                                                                   4,000

Benefits paid to retirees – 2016                                                                                         2,000

Current service cost – 2016                                                                                               1,900

1. Calculate the net defined benefit penion asset/liability at Dec 31,2015

2. For Dec 31, 2016, calculate the defined benefit obligation, fair value of plan assets and the net defined benefit penion asset or liability.

3. Calculate the three pension accounting elements and journal entries for service cost, net interest and revaluations for 2016.