TICTOC Inc. has an executive stock option plan, details of which follow: E The plan entities the President to purchase 49,100 common shares at $51.00 each over a 5. vaat period from the grant date of January 1, 2018 . The earliest the President can exercise the stock options is January 1, 2020. The President exercises 40,100 of the stock options on June 30, 2020. The rest of the options are allowed to lapse. The shares' market prices per share are as follows: January 1, 2018 $51.00 December 31, 2018 $55.00 December 31, 2019 $57.00 June 30, 2020 $60.00 TICTOC uses an option-pricing model to value the stock options. When granted, the options are estimated to have a fair value of $8.00 each. This estimate remains unchanged during the vesting period Assuming that TICTOC has a December 31 year end, prepare the required journal entries as at the following dates. (a) January 1, 2018 (grant date) (b) December 31, 2018 (c) June 30, 2020 (exercise date) (d) January 1, 2023 (lapse date)