On January 1, 2017, Orr Co. established a stock appreciation rights plan for its executives. All 360,000 SARs vest on December 31, 2020 and expire on January 1, 2022. At any time between the vesting and expiration dates, the executives can receive cash equal to the difference between the market price of the common stock and a pre-established price of $10. The estimated fair value of each SAR follows: 12/31/17$6; 12/31/18$2; 12/31/19$5; 12/31/20$7. Underlying stock prices are: 12/31/17$20; 12/31/18$16; 12/31/19$19; 12/31/20$21; 12/31/21$23. Executives exercise 60,000 SARs on 12/31/20 and the remainder on December 31, 2021.

Required:

Determine the amount of compensation expense for each of the five years starting with 2017. Indicate any negative expense for a given year with parentheses.

2017
2018
2019
2020
2021

Determine the balance sheet representation as of the end of each of the five years.