CALCULATOR PRINTER VERSION (BACK NEX Exercise 16-10 Your answer is partially correct. Try again. On November 1, 2017, Carla Company adopted a stock-option plan that granted options to key executives to purchase 21,300 shares of the company's $11 par value common stock. The options were granted on January 2, 2018, and were exercisable 2 years after the date of grant if the grantee was still an employee of the company. TH options expired 6 years from date of grant. The option price was set at $40, and the fair value option-pricing model determines the total compensation expense to be $319,500. All of the options were exercised during the year 2020: 14,200 on January 3 when the market price was $70, and 7,100 on May 1 when the market price was $80 a share Prepare journal entries relating to the stock option plan for the years 2018, 2019, and 2020. Assume that the employee performs services equally in 2018 and 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Round intermediate calculations to 5 decimal places, e.g. 1.24687 and final answers to 0 decimal places, e.g. 5,125.) Date Account Titles and Explanation Debit Credit Jan. 2, 2018 No Entry x No Entry Dec. 31, 2018 |Compensation Expense 159,750 Paid-in Capital-Stock Options 159,750 Dec. 31, 2019 Compensation Expense 159,750 Paid-in Capital-Stock Options 159,750 Jan. 3, 2020 Cash 568,000 CALCULATOR PRINTER VERSI Paid-in Capital-Stock Options 159,750 Jan. 3, 2020 Cash 568,000 Paid-in Capital-Stock Options 213,000 Common Stock 156,200 Paid-in Capital in Excess of Par - Common Stock 624,800 May 1, 2020 Cash 284,000 X Paid-in Capital-Stock Options 106,50 x Common Stock 81,000 X Paid-in Capital in Excess of Par - Common Stock 213,650 Click if you would like to Show Work for this question: Open Show Work