On January 1, 2020, X-borg Company granted share options to 10 of its key employees entitling them

to acquire P100 par value shares of the company at P110 per share for every 1 option. The share

options will vest on December 31, 2022, provided that the employees remain in the company's employ

and provided that revenues reach P100 million, the employees will receive 1,000 options each. If 2022

revenues reach P150 million, the employees will receive 2,000 options each. If 2022 revenues reach

P200 million, the employees will receive 3,000 options each.

The market value of the option on the date of grant is P30. The company has a steady pattern of 25%

increase in revenues every year over the last 5 years and expects the same pattern during the vesting

period.

In addition, the following information were deemed relevant for the computation of the compensation

expense for each year:

Date Estimated number of

Employees who will leave

the company

Actual revenue earned

Dec. 31, 2020 2 P80 million

Dec. 31, 2021 2 120 million

Dec. 31, 2022 3* 200 million

*Actual number of employees who left the company.

REQUIRED:

55. What is the compensation expense to be recognized in 2020?

56. What is the compensation expense to be recognized in 2021?

57. What is the compensation expense to be recognized in 2022?

58. If the actual employees receiving their options exercise all their options in 2023, how much is

credited to share premium from the related issuance of shares?

This is a problem from a book. I need help to check my answer.