Windsor Company adopted a stock-option plan on November 30, 2019, that provided that 67,000 shares of $5 par value stock be designated as available for the granting of options to officers of the corporation at a price of $9 a share. The market price was $12 a share on November 30, 2020. On January 2, 2020, options to purchase 29,500 shares were granted to president Tom Winter-15,200 for services to be rendered in 2020 and 14,300 for services to be rendered in 2021. Also on that date, options to purchase 15,400 shares were granted to vice president Michelle Bennett-7,700 for services to be rendered in 2020 and 7,700 for services to be rendered in 2021. The market price of the stock was $13 a share on January 2, 2020. The options were exercisable for a period of one year following the year in which the services were rendered. The fair value of the options on the grant date was $4 per option In 2021, neither the president nor the vice president exercised their options because the market price of the stock was below the exercise price. The market price of the stock was $7 a share on December 31, 2021, when the options for 2020 services lapsed. On December 31, 2022, both president Winter and vice president Bennett exercised their options for 14,300 and 7,700 shares, respectively, when the market price was $15 a share. Prepare the necessary journal entries in 2019 when the stock-option plan was adopted, in 2020 when options were granted, in 2021 when options lapsed, and in 2022 when options were exercised. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credi Nov. 30, 2019 No Entry 0 No Entry Jan 2, 2020 No Entry 0 No Entry (To record options granted to president.) Dec. 31. 2020 Compensation Expense 91600 Paid-in Capital-Expired Stock Options (To record compensation expense attributable to 2020.) Dec 31, 2021 Compensation Expense 88000 Paid-in Capital-Stock Options (To record compensation expense attributable to 2021.) Dec. 31, 2021 Paid-in Capital-Stock Options 91600 Paid-in Capital-Expired Stock Options (To record lapse of president's and vice president's options.) Dec 31, 2022 Cash 198000 Paid-in Capital-Stock Options 88000 Common Stock Paid-in Capital in Excess of Par - Common Stock (To record issuance of shares.)