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On January 1,2026, Coronado Inc, granted stock options to officers and key employees for the purchase of 18,000 shares of the company's $10 par common
On January 1,2026, Coronado Inc, granted stock options to officers and key employees for the purchase of 18,000 shares of the company's $10 par common stock at $24 per share, The options were exercisable within a 5 -year period beginning January 1,2028 , by grantees still in the employ of the company, and expiring Decernber 31, 2032. The service period for this award is 2 years. Assume that the fair value option-pricing model determines totai compensation expense to be $351,600. On Aprit 1, 2027, 1,800 options were terminated when the employees resigned from the company, The market price of the common stock was $34 per share on this date. On March 31,2028, 10,800 options were exercised when the market price of the common stock was $39 per share. Preparefoumatentries to record issuance of the stock options, termination of the stock options, exercise of the stock options, and charges to compensation expense, for the years ended December 31, 2026, 2027, and 2028, (List all debit entries before credit entries. Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter ofor the amounts. Record entries in the order displayed in the problem statement.)
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