Chapter 2 - Shareholders' Equity 2-19. On January 1, 2020, Cherry Red Company issued 10,000 share options for the purchase of P100 par value ordinary share at a strike price of P120 per share, to its key employees. The share options vest anytime once the share price reached P200, up to December 31, 2022. It is expected that the share price of the company would reach P200 on December 31, 2022. The options are exercisable until the end of 2023. Based on the pricing model used by the company, the fair value of the share option on January 1, 2020 is P20. REQUIRED: a. b. Assume that the market price of the company's share reached P200 in December 2021 and share options were exercised in 2022. Prepare entries for years 2020 through 2022 Assume that the market price of the company's share reached P200 in December 2022. Eighty percent of the options were exercised in 2023 and the remainder lapsed. Prepare the entries for years 2020 through 2023. How will the entries differ if the company's share reached a market price of P200 only in June 2023, such that none of the options vested during the prescribed period? C