On January 1, 2021, Farmer Fabrication issued stock options for 200,000 shares to a division manager. The options have an estimated fair value of $6 each. To provide additional incentive for managerial achievement, the options are not exercisable unless divisional revertue increases by 2% in four years. Suppose that after one year, Farmer estimates that it is not probable that divisional revenue will increase by 2% in four years. 12:20:29 Epped -Book Required: 1. What is the revised estimate of the total compensation? 2. What action will be taken to account for the options in 2022? 3. What journal entry will be needed to account for the options in 2022? Print ferences Complete this question by entering your answers in the Req 1 and 2 Req3 What is the revised estimate of the total compensation and wh hat is the revised estimate of the total compensation? Chat action will be taken to account for the options in 2022? hat journal entry will be needed to account for the options in 2022? Emplete this question by entering your answers in the tabs below. eq 1 and 2 Req3 What is the revised estimate of the total compensation and what action will be taken to account for the options in 2022? Estimated total compensation What journal entry will be needed to account for the options in 2022? R1 and 2 Req3 > Record compensation expense. Note: Enter debits before credits. Date General Journal Debit Credit 2022 Record entry Clear entry View general Journal