EcoMotors's disclosure notes for the year ending December 31, 2017, included the following regarding its $0.001 par common stock: Employee Stock Purchase Plan Our employees are eligible to purchase our common stock through payroll deductions of up to 20% of their eligible compensation, subject to any plan limitations. The purchase price would be 80% of the lower of the fair market value on the first and last trading days of each six-month offering period. During the years ended December 31, 2017, 2016, and 2015, we issued 222,571, 165,600 and 222,571 shares under the ESPP for $39.5 million, $30.6 million and $15.8 million, respectively. There were 3,635,749 shares available for issuance under the ESPP as of December 31, 2017. Required: Prepare the journal entry that summarizes EcoMotors's employee share purchases for the year ending December 31, 2017. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) No Credit * Answer is complete but not entirely correct. Date General Journal Debit December 31, 201 Cash 39,500,000 Compensation expense 9,875,000 Common stock Paid-in capital - excess of par 0X 49,375,000 X