As part of its stock-based compensation package, on January 1, 2024, International Electronics granted restricted stock units (RSUs) representing 90 million $1 par common shares. At exercise, holders of the RSUs are entitled to receive cash or stock equal in value to the market price of those shares at exercise. The RSUs cannot be exercised until the end of 2027 (vesting date) and expire at the end of 2029. The $1 par common shares have a market price of $6 per share on the grant date. The fair value at December 31, 2024, 2025, 2026, 2027, and 2028, is $8, $6, $8, $5, and $6, respectively. All recipients are expected to remain employed through the vesting date. After the recipients of the RSUs satisfy the vesting requirement, the company will distribute the shares. Required: 1. to 3. Prepare the appropriate journal entries pertaining to the RSUs on January 1, 2024 and December 31, 2024-December 31, 2027. The RSUs remain unexercised on December 31, 2028, prepare the appropriate entry. 4.The RSUs are exercised on June 6, 2029, when the share price is $6.50, and executives choose to receive cash. Prepare the appropriate journal entry(s) on that date. As part of its stock-based compensation package, International Electronics (IE) granted 18 million stock appreciation rights (SARS) to top officers on January 1, 2024. At exercise, holders of the SARS are entitled to receive 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 2027 (vesting date) and expire at the end of 2029. The $1 par common shares have a market price of $48 per share on the grant date. The fair value of the SARS, estimated by an appropriate option pricing model, is $3 per SAR at January 1, 2024. The fair value re-estimated at December 31, 2024, 2025, 2026, 2027, and 2028, is $4, $3, $4, $2.50, and $3, respectively. All recipients are expected to remain employed through the vesting date. Required: 1-a. Will the SARS be reported as debt or as equity? 1-b to 4.Prepare the appropriate journal entries pertaining to the SARS on January 1, 2024 and December 31, 2024-December 31, 2027. Assuming the SARS remain unexercised on December 31, 2028, prepare the appropriate entry. Prepare the entry when the SARS are exercised on June 6, 2029, when the share price is $50