Exercise 19-6 (Algo) Stock options [LO19-2] Heid Soltwale Corporation pronides a variety of shere based compensation plans to its employees. Under its executive stock option plan, the compary granted options on January 1,2024, that permit executives to acquire 7 million of the company's $1 par common thores within the next five yeors, but not before December 31,2025 ithe vesting dote). - The eneccise price is the market price of the shares on the dote of grant, $5800 per share. - The fair value of the 7 millon options, estimated by an appropriate cptlon pricing model, is $14 per aption. - No forfeltures are anticiphted - Ionore taxes. Aequired: 1. Determine the total compensation cost pertaining to the options. 2. Prepare the eppropriate journal entry to recond the award of options on January 1, 2024. 3. Prepare the appropriate journat entry to record compensaton expense on December 31, 2024 4. Prepare the appeppriate foumal entry to record compensation expense on December 31,2025 Comptete this questien by entering your answers in the tabs below. 2. Fepare the aspropiate journal encry to recerd the award of options on January 1, 2024. 3. Piepare the afpropriate journal entry to recerd compensation expense on December 31, 2021. mitions (ie,10,000,000 whould be entered as 10)