The Canton Corporation's January 1, 2018 balance sheet reports a net pension asset of $397,500. On December 31, 2018, the projected benefit obligation was $6,479,000, the fair value of the plan assets was $6,747,000, and the accumulated benefit obligation was $3,482,500. The December 31, 2018 balance sheet should report:
A. net pension asset of $268,000.
B. net pension liability of $3,264,500.
C. net pension asset of $397,500.
D. net pension liability of $3,482,500.
Answer: A
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