U.S. Metallurgical Inc. reported the following balances in its financial statements and disclosure notes at December 31, 2020.
U.S.M.'s actuary determined that 2021 service cost is $60,000. Both the expected and actual rate of return on plan assets are 9%. The interest (discount) rate is 5%. U.S.M. contributed $120,000 to the pension fund at the end of 2021, and retirees were paid $44,000 from plan assets.(Enter your answers in thousands (i.e., 10,000 should be entered as 10).)Required:
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