PHN Foods granted 12 million of its no par common shares to executives, subject to forfeiture if employment is terminated within three years. The common shares have a market price of $8 per share on January 1, 2015, the grant date. Required: 1.What ournal entry will PHN Foods prepare to record executive compensation regarding these restricted shares at December 31, 2015 ad December 31, 2016? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e. 10,000,000 should be entered as 10).) Journal entry worksheet Record executive compensation regarding these shares. Note: Enter debits before credits. Date Debit Credit December 31, 2015 2 When calculating diluted EPS at December 31, 2016, what will be the net increase in the denominator of the EPS fraction if the market price of the common shares averages $8 per share during 2016? (Enter you answer in millions of shares (i.e. 10,000,000 should be entered as 10).) Net increase in the denominator milion shares