On november 1, 2017, indigo company adopted a stock-option plan that granted options to key executives to purchase 25,500 shares of the company’s $9 par value common stock. the options were granted on january 2, 2018, and were exercisable 2 years after the date of grant if the grantee was still an employee of the company. the options expired 6 years from date of grant. the option price was set at $50, and the fair value option-pricing model determines the total compensation expense to be $382,500. all of the options were exercised during the year 2020: 17,000 on january 3 when the market price was $65, and 8,500 on may 1 when the market price was $76 a share. prepare journal entries relating to the stock option plan for the years 2018, 2019, and 2020. assume that the employee performs services equally in 2018 and 2019.