Could someone please help me with the JE and AJE to this issue.

The CEO was not the only employee to receive stock options With a 55 exercise price The company granted the executive VP 160,000 stock options on January I when he joined the company. Each one of these options allowed the VP to buy one common share for SS any time prior to December 31, 20XI_ The fair value of these options was the same as those issued to the CEO. The VP bargained aggressively for his compensation package and because of this, the company allowed the options to vest immediately on Februarv He exercised 120,000 of his options on July I but the following dav he left the company. Consequently, he forfeited his outstanding options. The accountant recorded the only entry relating to these options on Juty I: Common shares You have noticed from the above, that the market price of a common share on January I, 20XI was Sg while on December 31, 20XI it was SIL The average price far a common share during 20XI was SIO_ The preferred shares do not trade on anv exchange and there is no evidence to suggest that the price has changed since the last preferred share transaction