On January 1, Year 1, Midgley Oil Field Services granted 180,000 stock options to certain key executives. The options are exercisable after December 31, Year 3, and expire on January 1, Year 6. Each option can be exercised to acquire one share of $1 par value common stock for $6. An option-pricing model estimates the fair value of the options to be $5 per option on the date of grant. The executives exercised 162,000 options (90%) that vested on January 1, Year 4. On that date, the market price of Midgley stock was $12 per share. The journal entry that Midgley would record for the exercise of stock options by the executives in Year 4 would include a: Select one: O a. Credit to Paid-in capital in excess of par-Common stock for $1,692,000 O b. Debit to Paid-in capital-Stock options for $810,000 c. Credit to Common stock for $180,000 d. Credit to Cash for $972,000 O O

optoor can be exercised to acquire one vhare of $1 par walue common stock for 15 . An option priong model estimates the for value of the options to be 35 per option crithe date of grant: the enercise of atock opoom by the erecuthes in vear 4 would inctute a. Selectones: - Credit to Paid in cophar in excess of py - Comman suck for s1,6h2,000 d. Cridk to Cath for s9rzo00