Question: Stanley-Morgan Industries adopted a defined benefit pension plan on April 12. 2016. 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% ratio of return. A consulting firm, engaged as actuary, recommends 5% as the appropriate discount rate The service cost is $280,000 for 2016 and $370,000 for 2017. Year-end funding is $290,000 for 2016 and $300,000 for 2017. No assumptions or estimates were revised dung 2016.
Required: Calculate each of the following amounts as of both December 31. 2016. and December 31, 2017: (Enter your answers in thousands (i.e. 200,000 should be entered as 200).)