On January 1, 2020, Evergreen Inc. purchased 3,750 of the 15,000 outstanding shares of common stock of Nature Net Inc. resulting in significant influence over Nature Net Inc. The shares were purchased for \(\$ 5,000\) cash and Evergreen elected to account for the investment under the fair value option. During the year, Nature Net reported net income of \(\$ 26,000\) and declared and paid dividends of \(\$ 12,000\). The 3,750 shares of Nature Net Inc. stock had a fair value of \(\$ 5,500\) on December 31, 2020.

a. Prepare Evergreen's entry to record the purchase of the common stock of Nature Net Inc. on January 1, 2020.

b. Prepare Evergreen's entry to record the receipt of declared dividends on December 31, 2020.

c. Prepare Evergreen's entry to adjust the securities to fair value on December 31, 2020.

d. What is the carrying value of the investment on December 31, 2020?