On January 1, 2020, Hammer Corporation granted to each of its 5 executives the right to choose either 1,000 ordinary shares or to receive cash payment equal to 900 shares. The grant is conditional upon completion of three years of service. The entity estimates that the value of the share alternative on January 1, 2020 is P75 per share.

The company's ordinary share has a par value of P50.

Following are the fair values of the company'sordinary share:

January 1, 202080

December 31, 202084

December 31, 202190

December 31,202295

December 31,202397

Two executives exercised their rights to receive cash settlement on December 31, 2022; the others chose to receive the ordinary shares on December 31, 2023.

Q31Amount assigned to equity on January 1, 2020 using the residual approach.

Q32Amount of compensation expense for 2020 and 2021, and 2022,respectively.

Q33What amount of cash settlement willthe two executives (with 1,800 shares) received as a result of exercising their rightto receive cash payment on December 31,2022 when the share marketprice is P95 per share?

Q34What amount of additional compensation expense will be recognized in 2023 as a result of exercising theright to receive ordinary shares by the remaining executives instead of cash ?

Q35What amount of share premium-ordinary will arise from the exercise of the right to receive ordinary shares by the remaining executivesinstead of cash?