Current Attempt in Progress Coronado Company adopted a stock-option plan on November 30, 2019, that provided that 71,600 shares of $5 par value stock be designated as available for the granting of options to officers of the corporation at a price of $9 a share. The market price was $12 a share on November 30, 2020. On January 2, 2020, options to purchase 25,800 shares were granted to president Tom Winter-15,400 for services to be rendered in 2020 and 10,400 for services to be rendered in 2021. Also on that date, options to purchase 11,400 shares were granted to vice president Michelle Bennett-5,700 for services to be rendered in 2020 and 5,700 for services to be rendered in 2021. The market price of the stock was $14 a share on January 2, 2020. The options were exercisable for a period of one year following the year in which the services were rendered. The fair value of the options on the grant date was $4 per option. In 2021, neither the president nor the vice president exercised their options because the market price of the stock was below the exercise price. The market price of the stock was $9 a share on December 31, 2021, when the options for 2020 services lapsed. On December 31, 2022, both president Winter and vice president Bennett exercised their options for 10,400 and 5,700 shares, respectively, when the market price was $17 a share. Prepare the necessary journal entries in 2019 when the stock-option plan was adopted, in 2020 when options were granted, in 2021 when options lapsed, and in 2022 when options were exercised. (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.) Date Account Titles and Explanation Debit Credit Nov. 30, 2019 No Entry Jan. 2, 2020 No Entry No Entry Dec. 31, 2020 No Entry (To record options granted to president.) Compensation Expense Dec. 31, 2021 Dec. 31, 2021 Paid-in Capital-Stock Options (To record compensation expense attributable to 2020.) Compensation Expense Paid-in Capital-Stock Options (To record compensation expense attributable to 2021.) Paid-in Capital-Stock Options Paid-in Capital-Expired Stock Options (To record lapse of president's and vice president's options.) Dec. 31, 2022 Cash Paid-in Capital-Stock Options Common Stock Paid-in Capital in Excess of Par - Common Stock (To record issuance of shares.)