Question - Presented below is information related to Jensen Inc. pension plan for 2018.
Service cost $1,360,000
Actual return on plan assets 280,000
Interest on projected benefit obligation 520,000
Amortization of net loss 120,000
Amortization of prior service cost due to increase in benefits 220,000
Expected return on plan assets 240,000
What amount should be reported for pension expense in 2018?
$1,980,000
$1,940,000
$2,180,000
$1,700,000