23 Problem #3-Derivative financial instrument. Hummel Company purchased a put option on Olney common shares on July 7, 2018, for $100. The put option is for 200 shares, and the strike price is $30. The option expires on January 31, 2019. The following data are available with respect to the put option: Date Market Price of Olney Shares Time Value of Put Option September 30, 2018 $32 per share $55 December 31, 2018 $31 per share January 31, 2019 $33 per share 0 Instructions (20 pts) Prepare the journal entries for Hummel Company for the following dates: (a) July 7, 2018Investment in put option on Olney shares. (b) September 30, 2018- Hummel prepares financial statements. (c) December 31, 2018- Hummel prepares financial statements. (d) January 31, 2019-Put option expires