value: 10.00 points Problem 19-7 Performance option plan [LO19-2] LCI Cable Company grants 2.8 million performance stock options to key executives at January 1, 2016. The options entitle executives to receive 2.8 million of LCI $1 par common shares, subject to the achievement of specific financial goals over the next four years. Attainment of these goals is considered probable initially and throughout the service period. The options have a current fair value of $10 per option. Required: 1. to 2. Record the necessary journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) View transaction list 1 Record the grant of 2.8 million performance stock options when the options have a fair value of $10 per option as on January 01, 2016. ptions 2 Record the entry that would be made on December 31 of 2016, 2017, 2018 and 2019. redit Suppose at the beginning of 2018, LCI decided it is not probable that the performance objectives will be met. Prepare the appropriate entries on December 31 of 2018 and 2019. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) View transaction list 1 Prepare any necessary entry on December 31, 2018 assuming that it is not probable that the performance objectives will be met. is not 2 Prepare any necessary entry on December 31, 2019 assuming that it is not probable that the performance objectives will be met. redit Note : = journal entry has been entered Record entry Clear entry View general journal