Lasagna Corporation Has a Defined Benefit Pension Plan Plan Assets

Lasagna Corporation has a defined benefit pension plan. Lasagna received the following information for the current calendar year:
The expected long-term return on plan assets is 10%. There were no other relevant data for the year.
Required:
1) Determine Lasagna Corporation's pension expense for the year.
2) Prepare the journal entries to record the pension expense and funding for the year.
Projected benefit obligation
$\begin{array}{lr}\text { Balance, January 1 } & \$ 100,000,000 \\ \text { Service cost } & 18,000,000 \\ \text { Interest cost } & 10,000,000 \\ \text { Benefits paid } & (8,000,000) \\ \text { Balance, December 31 } & \$ 120,000,000\end{array}$
Plan assets
$\begin{array}{lr}\text { Balance, January 1 } & \$ 70,000,000 \\ \text { Actual return on plan assets } & 7,000,000 \\ \text { Contribution } & 16,000,000 \\ \text { Benefits paid } & (8,000,000) \\ \text { Balance, December 31 } & \$ 85,000,000\end{array}$