Case 15-11 Accounting for Employee Stock Option Plans (ESOPS) Growth Corporation offered the following stock option plan to its employees. Each employee will receive 1,000 o equal to the market price of the company's common shares on the grant date, January 1, 2021. On that date The market price per share was $22 The fair value of an option was $3 Required: a. Describe how the ESOPs would have been reported under the provisions of APB Opinion No. 25 b/ Analyze and explain the consequences of the APB Opinion No. 25 accounting treatment. Your analysis should i The conceptual framework it. Any ethical implications ii. The impact on financial statements iv. The impact on financial ratios c. The FASB now requires companies to use the fair value method of accounting for ESOPs as described in FASB under this method. d. Analyze and explain the consequences of using fair value to measure and report the ESOPs. Your analysis shoul i. The conceptual framework 1i. Any ethical implications ili. The impact on financial statements iv. The impact on financial ratios