Analyzing Change in Plan Asset BalanceThe Blackhawk Company implemented a defined benefit pension plan for its employees. The following data are provided for 2021.Account Balances, Dec. 31 2021Projected Benefit Obligation $280,000Plan Assets 280,020Activity 2021Actual return on plan assets $8,120Benefits paid to employees 12,000Employer contributions 15,000a. Determine the balance in Plan Assets on January 1, 2021.b. Determine the actual rate of return on plan assets for 2021.