Question 5 (a) On 1st April 2017, Kara Ltd. granted an award of 150 share options to each of its 1,000 employees, on condition of continuous employment with Kara Ltd. for three years and the benefits will then be settled in cash of an equivalent amount of share price. Fair value of each option on the grant date was 129. Towards the end of 31st March 2018, Kara Ltd.'s share price dropped; so on 1st April 2018 management chose to reduce the exercise price of the options. At the date of the re-pricing, the fair value of each of the original share options granted was 750 and the fair value of each re-priced option was 80. Thus, the incremental fair value of each modified option was 730. At the date of the award, management estimated that 10% of employees would leave the entity before the end of three years i.e., 900 awards would vest). During financial year 2018-2019, it became apparent that fewer employees than expected were leaving, so management revised its estimate of the number of leavers to only 5% (i.e. 950 awards would vest). At the end of 31st March 2020, awards to 930 employees actually vested. Determine the expense for each year and pass appropriate journal entries as per the relevant Ind AS. (12 Marks)