Marathon Company purchases a call option from Sprint Ltd. on April 1, 2021, to buy Athletic Inc. shares. The option expires September 1, 2021. Following are additional details pertaining to the stock option: Number of shares that can be purchased with the stock option 1,650 Price to purchase stock option from Sprint Ltd. Option exercise price (per share of Athletic Inc.) Market price per Athletic Inc. share on April 1, 2021 Market price per Athletic Inc. share on April 30, 2021 sssss $ 350 $ 29 $ 29 $ 37 $ 16,400 S 39 Fair value of call option on April 30, 2021 Market price per Athletic Inc. share on May 18, 2021 Assume that Marathon Company settles the option in cash on May 18, 2021. Marathon has a year end date of April 30. Required: 1. Calculate the intrinsic value and the time value of this option as of: (a) (b) April 1, 2021 (1.5 marks) April 30, 2021 (2 marks) 2. Prepare journal entries on each of the following dates: (a) April 1, 2021 (1 mark) April 20 2021/1.markl