On January 1, 2018, Adams-Meneke Corporation granted 60 million incentive stock options to division managers, each permitting holders to purchase one share of the company's $1 par common shares within the next six years, but not before December 31, 2020 (the vesting date). The exercise price is the market price of the shares on the date of grant, currently $38 per share. The fair value of the options, estimated by an appropriate option pricing model, is $6 per option Management's policy is to estimate forfeitures. No forfeitures are anticipated. Ignore taxes. Required: 1. Determine the total compensation cost pertaining to the options on January 1, 2018 2. Prepare the appropriate journal entry to record compensation expense on December 31, 2018 3. Unexpected turnover during 2019 caused an estimate of the forfelture of 5% of the stock options. Determine the adjusted compensation cost, and prepare the appropriate journal entry(s) on December 31, 2019 and 2020 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Determine the total compensation cost pertaining to the options on January 1, 2018. (Enter your answer in millions (ie 10,000,000 should be entered as 10)) Total compensation cost million Required 2 > Journal entry worksheet Record compensation expense on December 31, 2018. Note: Enter debits bolore credits General Journal Date December 31, 2018 Dobit Credit Record entry Clear entry View general Journal Journal entry worksheet 1 2 Record the compensation expense. Note: Enter debits before credits Date General Journal December 31, 2019 Debit Credit + Record entry Clear entry View general Journal Journal entry worksheet