Dauphin Inc Granted 100,000 Stock Options to Their Top Three

Dauphin Inc granted 100,000 stock options to their top three executives on December 1, 2014.The exercise price of the options is $15 and the options expire December 1, 2016.The total market price of the options on December 1 was estimated to be $200,000, but by December 31, 2014, it had fallen to $190,000.The company's share price was $14 on December 1, 2014, $13.50 on December 31, 20140, and $18.00 on December
1, 2016.All of the options were exercised in 2016.
Required:
A) Were the options in-or out-of-the-money when they were issued?
B) Were the options in-or out-of-the-money when they were exercised?
C) Record the entry required in 2014 related to the issuance of the options.If none is required, state so and explain why.
D) Record the entry to record the exercise of the options in 2016.If none is required, state so and explain why.E) What was the benefit to the employees of the stock options?