On January 2, Starz Inc. established an agreement with Silver Co. allowing Starz Inc. to call 100 shares of Gold Inc. stock at a strike price of $45 per share through June 30 of the following year. On January 2, the current market price of Gold Inc. is $45 and the option premium is $200. On June 30, the fair value of the option is $900. Required a. Prepare the journal entry on January 2 to record the purchase of the call option. Date Jan. 2 Account Name Date June 30 To record the purchase of the call option b. Prepare the entry to adjust the call option to fair value on June 30. Account Name + : To record fair value adjustment # # Dr. $0 Dr. 0 0 0 0 c. At what price per share of Gold Inc. will the call option become valuable to Starz Inc.? Note: Round your answer to the nearest penny. At a price per share Cr. Cr. 0 0 0 0