Bora Ltd. has decided to grant its 400 employees 100 options each to purchase shares from 1 November 2013 which are conditional upon one still being in employment as at 31 October 2016. The company has provided the following details regarding the scheme: Year ended 31 October 2014 31 October 2015 31 October 2016 Number of employees expected to leave employment 25 15 15 Fair value of each option Sh. 20 16 15 The fair value of the option will be Sh.20 as at 1 November 2013. The exercise price of the option will be Sh. 10 and the par value of the company's share is Sh.5. The average market price of the share over the three years to 3 1 October 2016 is expected to be Sh.25. Required: Show how the company should report the transactions on the scheme as per the requirements of IFRS 2 (Share Based Payments) over the three years. (Assume that all the employees eligible will exercise their rights on 31 October 2016).