Question 4 Partially correct Mark 0.50 out of 1.00 P Flag question Analyzing Stock Option Expense for Income Merck & Co., Inc., reported net income attributable to Merck & Co., Inc. of $11,920 million for the 2014 fiscal year. Its 2014 10-K report contained the following information regarding its stock options. Employee stock options are granted to purchase shares of Company stock at the fair market value at the time of grant. These awards generally vest one-third each year over a three-year period, with a contractual term of 7-10 years ... The weighted average exercise price of options granted in 2014 was $61.57 per option ... The weighted average fair value of options granted in 2014 was $8.26 per option. a. Merck granted 5,058,000 options to employees in 2014. Using a journal entry, show how the stock option grants would be recorded in 2014. (Assume all grants took place on January 1,2014.) Enter entire number - do not convert to millions or round answers. Credit 11,920 x 11,920 X General Journal Description Debit No entry 11,920 x No entry 11,920 x To record options at the grant date Compensation expen: - 11,920 X Additional paid in cap 11,920 X To record year-end expenses for 2014. 11,920 X 11,920 x