As part of its stock-based compensation package, International Electronics granted 13 million stock appreciation rights (SARs) to top officers on January 1, 2018. At exercise, holders of the SARs are entitled to receive cash or stock equal in value to the excess of the market price at exercise over the share price at the date of grant. The SARs cannot be exercised until the end of 2021 (vesting date) and expire at the end of 2023. The $1 par common shares have a market price of $53 per share on the grant date. The fair value of the SARs, estimated by an appropriate option pricing model, is $5.0 per SAR at January 1, 2018. The fair value re-estimated at December 31, 2018, 2019, 2020, 2021, and 2022, is $6.0, $5.0, $5, $1.6, and $3.00, respectively. All recipients are expected to remain employed through the vesting date. Required: 1. to 3. Prepare the appropriate journal entries pertaining to the SARs on January 1, 2018 and December 31, 2018-December 31,2021 The SARs remain unexercised on December 31, 2022, prepare the appropriate entry. 4. The SARs are exercised on June 6, 2023, when the share price is $57, and executives choose to receive the market price appreciation in cash. Prepare the appropriate journal entry(s) on that date. Comnlete this question by enterina your answers in the tahs helow Journal entry worksheet 2 3 4 5 6 Record any necessary journal entry on December 31, 2018 for fair value of the SARS. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2018 Journal entry worksheet 1 2 3 4 5 6 Record any necessary journal entry on December 31, 2019 for fair value of the SARs. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2019 Journal entry worksheet 2 3 4 5 6 Record any necessary journal entry on December 31, 2020 for fair value of the SARs. Note: Enter debits before credits Date General Journal Debit Credit December 31, 2020 Journal entry worksheet 2 4 5 6 Record any necessary journal entry on December 31, 2021 for fair value of the SARs. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2021 Journal entry worksheet 2 3 4 5 6 Record any necessary journal entry on December 31, 2022 for fair value of the SARs. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2022 Journal entry worksheet 1 2 Record any necessary adjustment to compensation expense. Note: Enter debits before credits Date General Journal Credit June 06, 2023 Journal entry worksheet 1 2 Record the payment of cash. Note: Enter debits before credits. Debit Cre Date General Journal June 06, 2023