2. Accounting for Stock Options (14 points) At the beginning of 2021, Dalmatian, Inc. adopted a stock option plan for key employees. Under the plan, options are exercisable beginning five years after the grant date for a maximum of seven years. On 1/1/21, Dalmatian granted 250,000 options with an exercise (strike) price of $31 when the market price for Dalmatian's $1 par value common shares was $31 per share. At that point in time, all options were expected to vest. Using the Black-Scholes Option Pricing Model, the fair value of each option was $17 as of 1/1/21. At the beginning of 2023, an unexpected number of executives departed, resulting in a decrease in the expected number of options to vest. The new estimate on 1/1/23 was 200,000 options. On 5/15/28, 180,000 options were exercised when the market price of Dalmatian's stock was $34. Following that, the stock price plummeted, and the remaining 20,000 options expired unexercised on 1/1/28. Required - Prepare any necessary journal entries for 2021 - 2028 related to these stock options. Ignore taxes