As part of its stock-based compensation package. Interntional Electronics granted 52 milion stock sppreciation rights (SAR) 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 exercises until the end of 2021 /vesting stel and expire st the end of 2023. The $1 par common shares have a market price of $62 per share on the grant date. The fair value of the SARS, estimated by an appropriate option pricing model, a $6.5 per SAR at January 1, 2018. The fair value re-estimated at December 31, 2018, 2019, 2020, 2021, and 2022 13 $7.5, S6.5, $6. $1.9, and $3.00, respectively. Al recipients are expected to remain employed through the vesting date. Required: 1. to 3. Prepare the appropriste journal entries pertsining to the SARS on January 1, 2019 and December 31, 2016-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$66, and executives choose to receive the market price appreciation in cash. Prepare the appropriate Journal entry on that date. Answer is not complete. Complete this question by entering your answers in the tabs below. R 1 13 Prepare the appropriate fournal 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. (If no entry is required for a transaction/event, select "No joumal entry required in the first account field. Enter your answers in millions rounded to 2 decimal places (Lc., 5,550,000 should be entered as 5.50).) Show less No Debit Credit Date General Journal January 01, 2018 Nojournal entry required 1 O December 31, 2011 Comparation expense Liability SAR plan ols 97.50 97.50 71.50 December 31, 2011 Compensation expense Liability SAR plan OLI 71.50 65.00 December 31, 2021 Comparation expense Liability-SAR plan 65.00 5 December 31, 202 Liability-SAR plan Compensation expanse olo 6 December 31, 202 Compensation expense Liability SAR plan Jols