Part 1 and part 2 of this question please Hicks Cable Company has a defined benefit pension plan. Three alternative possibilities for pension-related data at January 1, 2021,are shown below:($ in thousands)Case 1Case 2Case 3Net loss (gain)-AOCI, Jan. 12021 loss (gain) on plan assets2021 loss (gain) on PBOAccumulated benefit obligation, Jan. 1Projected benefit obligation, Jan. 1Fair value of plan assets, Jan. 1$3262$(341)2$266(17)(29)(3,010)(3,370)2,860(14)(278)(1,510)(1,760)1,61022(2,610)(2,730)2,760Average remaining service periodof active employees (years)11139.Required:1. For each independent case, calculate any amortization of the net loss or gain that should be included as a component of pensionexpense for 2021.2. For each independent case, determine the net loss-AOCI or net gain-AOCI as of January 1, 2022.Complete this question by entering your answers in the tabs below.Required 1Required 2For each independent case, determine the net loss-AOCI or net gain-AOCI as of January 1, 2022. (Amounts to be deductedand loss amounts should be indicated by a minus sign.)($ in thousands)Case 1Case 2Case 3January 1, 2021 net loss (gain)2$326$(341)2$266Loss (gain) on plan assetsAmortizationLoss (gain) on PBOJanuary 1, 2022 net loss or (gain) - AOCI2$3262$(341)$266 Hicks Cable Company has a defined benefit pension plan. Three alternative possibilities for pension-related data at January 1, 2021,are shown below:($ in thousands)Case 1Case 2Case 3Net loss (gain)-AOCI, Jan. 12021 loss (gain) on plan assets2021 loss (gain) on PBOAccumulated benefit obligation, Jan. 1Projected benefit obligation, Jan. 1Fair value of plan assets, Jan. 1$3262$(341)2$266(17)(29)(3,010)(3,370)2,860(14)(278)(1,510)(1,760)1,61022(2,610)(2,730)2,760Average remaining service periodof active employees (years)11139.Required:1. For each independent case, calculate any amortization of the net loss or gain that should be included as a component of pensionexpense for 2021.2. For each independent case, determine the net loss-AOCI or net gain-AOCI as of January 1, 2022.Complete this question by entering your answers in the tabs below.Required 1Required 2For each independent case, calculate any amortization of the net loss or gain that should be included as a component ofpension expense for 2021. (Input all amounts as positive values.)($ in thousands)Case 1Case 2Case 3Net gain or loss$326$341$266Less: Corridor amountExcess, if any$3262$3412$266Service period (years)1113Amortization of gain or loss$30$26$30

Pension expense is the amount business charged as an expense for pension payable to the employees…

Hicks Cable Company has a defined benefit pension plan. Three alternative possibilities for pension-related data at January 1, 2021, are shown below: ($ in thousands) Case 1 Case 2 $ (341) (14) 22 Case 3 Net loss (gain)-AOCI, Jan. 1 2021 loss (gain) on plan assets 2021 loss (gain) on PBO Accumulated benefit obligation, Jan. 1 Projected benefit obligation, Jan. 1 Fair value of plan assets, Jan. 1 Average remaining service period of active employees (years) 326 (17) (29) (3,010) (3,370) 2,860 266 6 (2,610) (2,730) 2,760 (278) (1,510) (1,760) 1,610 11 13 Required: 1. For each independent case, calculate any amortization of the net loss or gain that should be included as a component of pension expense for 2021. 2. For each independent case, determine the net loss-AOCI or net gain-AOCI as of January 1, 2022.