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Based on past experience, Mas Comp (a US.based companyf expects to purchase rew materials from a foreign supplier at a cost of 1.500.000 francs on March 15, 2021, To hedge this forecasted transaction, on December 15, 2020, the compary acquires a call option to purchase 1,500,000 trancs in three months. Mass selects a strike price of $0.74 per franc when the spot rate is $074 and poys a premium of 50.004 per franc. The spot tate increases to $0.746 at December 31,2020 , causing the far value of the option to increase to \$14,000 By March 15, 2021, when the raw materials are purchased, the spot rate has climbed to \$0.75, resuting in a fair value for the option of 515.000. The raw materials are used in assembling finished products, which are sold by December 31,2021 , when Mass prepores its annual financial statements. a. Prepare all journal entries for the option hedge of a forecasted transaction and for the purchase of raw materials. b. What is the overall impoct on net income over the fwo accounting pertods? c. What is the net cash ounfow to acquire the raw materials? Complete this question by entering your answers in the tabs below, Prepare all journal entries for the cotion hedge of a forecasted transaction and for the purchase of raw materials, (if no entry is reguired for a transaction/event, select "No joumal entry, required" in the first account field.) b. What is the overall impact on net income over the two accounting periods? (Negative amounts should be entered minus sign.) c. What is the net cash outflow to acquire the raw materials