Connie's Consolidated Containers (CCC) granted 1,000 nonqualified stock options to its president on December 31, 2018. The market value of the stock at the date of grant was $20 per share which was also the option exercise price. The options vested 100% at the end of two years. The fair value of the option at the date of grant was determined to be $5 per share. Assume the options were exercised on December 31, 2020 when the value of the stock was $22 per share. Also assume that the company has a calendar year end and that the tax rate for all years is 40%. Please complete the journal entries that would be recorded relative to these options in 2018, 2019 and 2020