Please see the attached file ( The 3 questions are clearer in the atteched filed)

Q1- On February 28, 2016, Dow sold 56,000 common shares. In keeping with its long-term share repurchase plan, 5,000 shares were retired on July 1. Dow's net income for the year ended December 31, 2016, was $2,550,000. The income tax rate is 40%.

As part of an incentive compensation plan, Dow granted incentive stock options to division managers at December 31 of the current and each of the previous two years. Each option permits its holder to buy one share of common stock at an exercise price equal to market value at the date of grant and can be exercised one year from that date. Information concerning the number of options granted and common share prices follows:

Date Granted	Options Granted	Share Price
	(adjusted for the stock dividend)
December 31, 2014	16,000		$	24
December 31, 2015	11,000		$	33
December 31, 2016	14,500		$	32

The market price of the common stock averaged $32 per share during 2016.

Required:

Compute Dow's earnings per share for the year ended December 31, 2016.(Enter your answers in thousands.)

Q2-

On October 15, 2015, the board of directors of Ensor Materials Corporation approved a stock option plan for key executives. On January 1, 2016, 20 million stock options were granted, exercisable for 20 million shares of Ensor's $1 par common stock. The options are exercisable between January 1, 2019, and December 31, 2021, at 80% of the quoted market price on January 1, 2016, which was $15. The fair value of the 20 million options, estimated by an appropriate option pricing model, is $6 per option.

Two million options were forfeited when an executive resigned in 2017. All other options were exercised on July 12, 2020, when the stock?s price jumped unexpectedly to $19 per share.

Required:

1.	When is Ensor?s stock option measurement date?
	January 1, 2019 January 1, 2016 October 15, 2015 December 31, 2021

2.	Determine the compensation expense for the stock option plan in 2016. (Ignore taxes.)(Enter your answer in millions (i.e., 10,000,000 should be entered as 10).)

3. & 5.

Prepare the necessary journal entries.(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).)

Q3-

On January 1, 2016, Tonge Industries had outstanding 460,000 common shares (par $1) that originally sold for $25 per share, and 5,000 shares of 10% cumulative preferred stock (par $100), convertible into 50,000 common shares.

On October 1, 2016, Tonge sold and issued an additional 12,000 shares of common stock at $35. At December 31, 2016, there were incentive stock options outstanding, issued in 2015, and exercisable after one year for 21,000 shares of common stock at an exercise price of $32. The market price of the common stock at year-end was $50. During the year the price of the common shares had averaged $42.

Net income was $600,000. The tax rate for the year was 40%.

Required:

Compute basic and diluted EPS for the year ended December 31, 2016.(Enter your answers in thousands.)