What is the adjusting journal entry that needs to be made?

On January 1, 2014, the board of directors of the company authorized the grant of 10,000 stock options to its employees to supplement their salary. Each stock option permits the purchase of one share of common stock of the company at a price of $9 per share; the market price of the stock on January 1, 2014, was also $9 per share. The options vest, or become exercisable, beginning on January 1, 2017, and only if the employees stay with the company for the entire three years vesting period. The options expire on December 31, 2017. On December 31, 2014, the company estimated a grant value of $6 for each of the employee stock options using an option-pricing model.

(Exra info:Yellow Leaf Fashion Inc. was incorporated on December 31, 2011, with 100,000 shares of $1 par value common stock authorized. Eighty thousand shares were issued at $6 per share on December 31, 2011. An additional 8,000 common shares were issued at $8 per share on June 30, 2013. The company's accounting period ends on December 31 of each year.)

Unadjusted trial balances as of Dec 31, 2014.

Common stock ($1 par): CR.$88,000.00

Paid-In Capital in excess to par: CR. $456,000.00

Paid-in Capital stock options: $0

Retained Earnings: CR $1,059,768.00

Stock compensation expense: $0