On January 1, 2016, Robertson Company Created a Fixed Compensatory

Essay

On January 1, 2016, Robertson Company created a fixed compensatory stock option plan for employees to acquire
18,000 shares of $3 par common stock for $22 a share. The options vest after four years of employment, and therefore, they cannot be exercised until January 1, 2020. On the grant date, the fair value of the options was $5 per option. All options were exercised on June 30, 2020. Robertson Company accounts for this plan using the fair value method.
Required:
Record all entries relating to this stock option plan over the life of the plan.