As part of its stock-based compensation package, International Electronics granted 60 million stock appreciation nights (SAfte) to top offers on January 1, 2001. At exercise, holders of the SAMs are entitled to receive cash or stock equal in value to the excess of the market ercise over the share price at the date of grant. The SAfts cannot be exercised unit the end of 2024 (vesting date) and expire at the end of 2026. The $1 par common shares have a mark of $64 per share on the grant date. The fair value of 71, 2021 The fair value re-estimated at the SAfts, estimated by an appropriate option pricing model, is $4.50 per 5Aft at Janu December 31, 2021, 2022, 2023, 2024, and 2025, is $5.50, $4.50, 50, $2.00, and respectively. All recipients are expected to remain employed through the vesting date Required 1. to 3. Prepare the appropriate journal entries pertaining to the SAffs on January 1, 2021 and December 31, 2021-December 31, 2024 The SARS remain unexercised on December 31, 2025, prepare the appropriate entry, 4. The SARS are exercised on June 6, 2020, when the share price is $70, and executives choose to receive the market price appreciation in cash. Prepare the appropriate journal entry(s) on that date Complete this question by entering your answers in the tabs below. Check my work Reg 1 to 3 Prepare the appropriate journal entries pertaining to the SARS on January 1, 2021 and December 31, 2021-December 31, 2024. The SARS remain unexercised on December 31, 2025, prepare the appropriate entry. (If no entry is required for a transaction/event, select "No journal entry required in the first account fielt. Do not round intermediate calculations. Enter your answers in mitions rounded to 2 declinal places (ie, 5,550,000 should be entered as 5.50).) Show less View transaction list < Prev 27 of 201 Doore answer >