TREASURY STOCK In 2009 January 2 . Poe's Products completed the treasury stock transactions described below eacquired 8 million shares at $16 per share. February 15: Sold 3 million treasury shares at September 20: Sold 4 m S14 per share illion treasury shares at $20 per share. Poe had issued 50 million shares of its S1 par common stock for $18 several years ago Required: Record the above transactions, assuming that Poe's Products uses the cost methocd. Debit Cosh 1,00o LI 12,006600 Feb 15 rca sury 30000,006 tol Sept 20 Cash reas STOCK OPTIONS Under its executive stock option plan, N Corpofation granted options on January 1, 2009, that permit executives to purchase 15 million of the compyny's S1 par common shares within the next eight years, but n before December 31, 2011 (the vesting date)The exercise price is the market price of the shares on the date grant, S18 per share. The fair value of the ofions, estimated by an appropriate option pricing model, is $4 option. No forfeitures are anticipated. Required: 1. What is total compensatio 2. Prepare the approprite journal entry torecord compensation on Dec. 31, 2009