On January $1,$ Year $6,$ Robertson Company created a fixed compensatory stock option plan for employees to acquire $18,000$ shares of $$3$ par common stock for $$22$ a share. The options vest after four years of employment, and therefore, they cannot be exercised until January $1,$ Year $10.$ On the grant date, the fair value of the options was $$5$ per option. All options were exercised on June $30,$ Year $10.$ Robertson Company accounts for this plan using the fair value method.

Required:

Record all entries relating to this stock option plan over the life of the plan.