need complete correct and well explained answer this time thanks Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2024 (the end of Beale'sfiscal year), the following pension-related data were available:Projected Benefit ObligationBalance, January 1, 2024Service costInterest cost, discount rate, 5%Gain due to changes in actuarial assumptionsin 2024Pension benefits paidBalance, December 31, 2024Plan AssetsBalance, January 1, 2024Actual return on plan assets(Expected return on planassets, $37)Cash contributionsPension benefits paidBalance, December 31, 2024($ inmillions)$ 4903273(22)$ 573January 1, 2024, balances:Pension assetPrior service cost-AOCI (amortization $6 peryear)Net gain-AOCI (any amortization over 10years)($ inmillions)$ 4404622(13)(22)$ 473($ inmillions)$ 504289Required:Prepare a pension spreadsheet to show the relationship among the PBO, plan assets, prior service cost, the net gain,pension expense, and the net pension asset.Note: Enter credit amounts with a minus sign and debit amounts with a positive sign. Enter your answers in millions(i.e., 10,000,000 should be entered as 10). ($ in millions)Balance, January 1,2024Service costInterest cost, 5%Expected return onassetsAdjust for:Loss on assetsAmortization of:Prior service costNet gainGain on PBOCash fundingRetiree benefitsAnswer is complete but not entirely correct.PriorService NetCost-Gain-AOCIAOCI42 $ (89)PBO$(440)(46)(22)3313✔22PlanAssets$ 490 $37✔(5)73(22)(6)5✔(13)PensionExpense Cash4622(37)✔(4)(73)NetPension(Liability)/ Asset$50(46)(22)(37)X5X1373

Required: Prepare a pension spreadsheet to show the relationship among the PBO, plan assets, prior service cost, the net gain, pension expense, and the net pension asset. Note: Enter credit amounts with a minus sign and debit amounts with a positive sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).