Stanley-Morgan Industries adopted a defined benefit pension plan on April 12 201

Stanley-Morgan Industries adopted a defined benefit pension plan on April 12 2011. The provisions of the plan were not made retroactive to prior years. A local bank engaged as trustee for the plan assets expects plan assets to earn a 10% rate of return. A consulting firm engaged as actuary recommends 6% as the appropriate discount rate. The service cost is 150000 for 2011 and 200000 for 2012. Year-end funding is 160000 for 2011 and 170000 for 2012. No assumptions or estimates were revised during 2011.Required:Calculate each of the following amounts as of both December 31 2011 and December 31 2012.Projected benefit obligationPlan assetsPension expenseNetpension asset or net pension liability