16. Greene Inc. offers a restricted stock award plan to its vice presidents. On January 1, 2013, the corporation granted 12 million of its $1 par common shares, subject to forfeiture if employment is terminated within two years. The common shares have a market value of $6 per share on the date the award is granted. Required: Prepare the appropriate journal entries related to the restricted stock through December 31, 2014.

Please include all calculations and dates where applicable.