The stockholders equity section of Martino Inc. at the beginning of the current year appears below.

Common stock, $10par value, authorized1,194,000shares,399,000shares issued and outstanding	$3,990,000
Paid-in capital in excess of parcommon stock	687,000
Retained earnings	589,000

During the current year, the following transactions occurred.

1.	The company issued to the stockholders198,000rights. Ten rights are needed to buy one share of stock at $32. The rights were void after 30 days. The market price of the stock at this time was $34per share.
2.	The company sold to the public a $218,000, 10% bond issue at106. The company also issued with each $100bond one detachable stock purchase warrant, which provided for the purchase of common stock at $30per share. Shortly after issuance, similar bonds without warrants were selling at96and the warrants at $10.
3.	All but9,900of the rights issued in (1) were exercised in 30 days.
4.	At the end of the year, 80% of the warrants in (2) had been exercised, and the remaining were outstanding and in good standing.
5.	During the current year, the company granted stock options for10,600shares of common stock to company executives. The company, using a fair value option-pricing model, determines that each option is worth $10. The option price is $30. The options were to expire at year-end and were considered compensation for the current year.
6.	All but1,060shares related to the stock-option plan were exercised by year-end. The expiration resulted because one of the executives failed to fulfill an obligation related to the employment contract.

(a) Prepare general journal entries for the current year to record the transactions listed above.(Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

No.	Account Titles and Explanation	Debit	Credit
1.
2.
3.
4.
5.
6.	For options exercised:
For options lapsed: