Garner Inc. provides the following information related to its postretirement benefits for the year 2014.\nAccumulated postretirement benefi t obligatio
Garner Inc. provides the following information related to its postretirement benefits for the year 2014.
\r\nAccumulated postretirement benefi t obligation at January 1, 2014 $710,000
\r\nActual and expected return on plan assets 34,000
\r\nPrior service cost amortization 21,000
\r\nDiscount rate 10%
\r\nService cost 83,000
\r\nInstructions
\r\nCompute postretirement benefit expense for 2014.