Exercise 16-11 On January 1, 2021, Sheridan Inc. granted stock options to officers and key employees for the purchase of 18,000 shares of the company's $10 por common stock at 123 per share The options were exercisable within a 5-year period beginning January 1, 2023, by grantees still in the employ of the company, and expiring December 31, 2027. The service period for this award is 2 years. Assume that the fair value option pricing model determines total compensation expense to be $343,400 On April 1, 2022, 1.000 options were terminated when the employees resigned from the company. The market price of the common stock was $6 per share on this date On March 31, 2023, 10,100 options were verdsed when the market price of the common stock was 541 per share. Prepare journal entries to record issuance of the stock options, termination of the stock options, exercise of the stock options, and changes to compensation expense, for the years ended December 31, 2021 2022, and 2023. (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 for the amounts.) Date Account Titles and Explanation Debit Credit