[6 points] On January 1,2024 , Sumo Company awarded 16.5 million of its $1 par common shares to key officers, subject to forfeiture if employment is terminated within three years. On the date of the grant, the stock had a market price of $4 per share. Required: 1. Determine the total compensation cost pertaining to the restricted shares. 2. Prepare the appropriate journal entry to record the award on January 1, 2024. 3. Prepare the appropriate journal entry to record compensation expense on December 31 , 2024, 2025, and 2026. (An identical journal entry is made in each year, so just prepare it once and write the 3 dates above the journal entry) 6 4. Prepare the appropriate journal entry to record the lifting of restrictions on December 31 , 2026