and 2021. E16.13 (L03) (Issuance, Exercise, and Expiration of Share Options) On January 1, 2018, Tsang Ltd. granted 10,000 options to key executives. Each option allows the executive to purchase one share of Tsang's HK$5 par value ordinary shares at a price of HK$20 per share. The options were exercisable within a 2-year period beginning January 1, 2020, if the grantee is still employed by the company at the time of the exercise. On the grant date, Tsang's shares were trading at HK$25 per share, and a fair value option-pricing model determines total compensation to be HK$450,000. On May 1, 2020, 9,000 options were exercised when the market price of Tsang's shares were HK$30 per share. The remaining options lapsed in 2022 because executives decided not to exercise their options. Instructions Prepare the necessary journal entries related to the share-option plan for the years 2018 through 2022. Derrick nlc issues 4.000 restricted shares to its