Heidi Software Corporation provides a variety of share-based compensation plans to its employees. Under its executive stock option plan, the company granted options on January 1,2024 , that permit executives to acquire 14 million of the company's $1 par common shares within the next five years, but not before December 31,2025 (the vesting date). - The exercise price is the market price of the shares on the date of grant, $45.00 perr share - The fair value of the 14 million options, estimated by an appropriate option pricing model, is $11 per option. - No forfeltures are anticipated - Ignore taxes. Required: 1. Determine the total compensation cost pertaining to the options. 2. Prepare the appropriate joumal entry to record the award of options on January 1,2024 3. Prepare the appropriate joumal entry to record compensation expense on December 31,2024 4. Prepare the appropriate joumal entry to record compensation expense on December 31, 2025 Complete this question by entering your answers in the tabs below. Determine the total compensation cost pertaining to the options. Note: Enter your answer in millions (i.e., 10,000,000 should be entered as 10). 2. Prepare the appropriate journal entry to record the award of options on January 1,2024 . 3. Prepare the appropriate joumal entry to record compensation expense on December 31,2024. 4. Prepare the appropriate journal entry to record compensation expense on December 31,2025. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10), 2. Prepare the appropriate journal entry to record the award of options on January 1, 2024. 3. Prepare the appropriate joumal entry to record compensation expense on December 31, 2024 4. Prepare the appropriate joumal entry to record compensation expense on December 31, 2025. Note: If no entry is required for a transaction/event, select "No joumal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Show lessi Journal entry worksheet Record compensation expense on December 31,2024. Wothi 1 reter gwlits becomo undits. 2. Prepare the appropriate journal entry to record the award of options on January 1, 2024. 3. Prepare the appropriate journal entry to record compensation expense on December 31,2024. 4. Prepare the appropriate journal entry to record compensation expense on December 31, 2025. Note: If no entry is required for a transaction/event, select "No joumal entry required" in the first account field, Enter your answers in millions (i.e, 10,000,000 should be entered as 10). Show less a