On January 1, 2010, Sorvino Corp. granted stock options to its chief executive officer. This is the only stock option that Sorvino offers and the details are as follows:

On January 1, 2015, 4,000 of the options were exercised when the market price of the common shares was $78. The remaining stock options were allowed to expire. The CEO remained with the company throughout the period.
Instructions
Record the journal entries at the following dates. Assume that the entity follows PE GAAP and has decided not to include an estimate of forfeitures upon initial recognition of the compensation expense.
(a) January 1, 2010
(b) December 31, 2010, the fiscal year end of Sorvino Inc.
(c) January 1, 2015€”the exercise date
(d) December 31, 2017€”the expiry date of the options

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Option to purchase: Option price per share: Market price per common share on date of grant: Stock option expiration: 5,000 common shares $62.00 $57.00 The earlier of eight years after issuance or the employee's cessation of employment with Sorvino for any reason other than retirement The earlier of four years after issuance or the date on which an employee reaches the retirement age of 65 $10.00 Date when options are first exercisable: Fair value at grant date, as determined by an options pricing model: