the stockholders Equity section of Martino Incorporated at the beginning of the current year appears below. Common stock, $10 par value, authorized 1014000 shares, 352000 shares issued and outstanding totaling 3520000 dollars. paid in capital in excess of par common stock $659,000. retained earnings $650,000. during the current year, the following transactions occurred. 1. The company issued to the stockholders 132000 rights. 10 rights are needed to buy one share of stock at $34. The rights were void after 30 days. The market price of the stock at this time was $36 per share. 2. The company sold to the public 209000, 10%% bond issue at 1 05 . The company also issued with each $100 Bond one detachable stock purchase warrant, which provided for the purchase of common stock at $32 per share. Shortly after issuance, similar bonds without warrants were selling at 96 and the warrants at $9. 3. All but 6600 of the rights issued in 1. were exercised in 30 days. 4. At the end of the year, 80% of the warrants in two had been exercised, and the remaining were outstanding and in good standing. 5. During the current year, the company granted stock options for 11200 shares of common stock to company Executives. The company, using a fair value option pricing model, determines that an option is worth $10. The option price is $32. The options were to expire at year-end and were considered compensation for the current year. 6. All butt 1120 shares 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. prepare general journal entries for the current year to record the transactions listed above. 1. Has 2 journal entries. 2. Has four journal entries 3. Has three journal entries 4. Has 4 journal entries. 5. Has two journal entries 6. first 4 options exercised there are four journal entries. for options lapsed there are two journal entries.