Available-for-sale portfolio
Stock Price:	(Click to select)Level 3Level 1 or Level 3Level 2 or Level 3Level 2Level 1 or Level 2Level 1
Overall Portfolio:	(Click to select)Level 2 or Level 3Level 2Level 1 or Level 2Level 3Level 1 or Level 3Level 1
Stock Compensation Expense
Current Stock Price:	(Click to select)Level 1Level 1 or Level 3Level 1 or Level 2Level 3Level 2 or Level 3Level 2
Risk-free Rate:	(Click to select)Level 1Level 2Level 1 or Level 3Level 2 or Level 3Level 3Level 1 or Level 2
Dividend-Yield:	(Click to select)Level 3Level 2 or Level 3Level 1 or Level 2Level 1Level 2Level 1 or Level 3
Exercise Price:	(Click to select)Level 3Level 2 or Level 3Level 2Level 1Level 1 or Level 3Level 1 or Level 2
Time:	(Click to select)Level 1 or Level 3Level 1Level 2 or Level 3Level 2Level 1 or Level 2Level 3
Standard Deviation:	(Click to select)Level 1 or Level 2Level 1Level 2Level 1 or Level 3Level 3Level 2 or Level 3
Overall Account:	(Click to select)Level 1Level 1 or Level 3Level 3Level 2 or Level 3Level 1 or Level 2Level 2

Spencer CPA, has been engaged to audit the fair value measurements of christensen & son, a high-tech company in the Midwest. During the audit, spencer must obtain evidence that management of christensen & son has appropriately valued the following two accounts: Available-for sale stock portfolio, containing investments in Fortune 100 company stocks. Stock compensation expense related to stock options granted to christensen's employees as valued by the Black-Scholes option-pricing model, Christensen's stock is largely held by the owners and neither the company's the related stock options are actively traded. Required: a. Identify the fair value input for the following accounts. Available-for sale stock portfolio. Identify the valuation levels for each of the identified inputs as well as the accounts as a whole (i.e., Level 1, level 2, or level 3). Spencer CPA, has been engaged to audit the fair value measurements of christensen & son, a high-tech company in the Midwest. During the audit, spencer must obtain evidence that management of christensen & son has appropriately valued the following two accounts: Available-for sale stock portfolio, containing investments in Fortune 100 company stocks. Stock compensation expense related to stock options granted to christensen's employees as valued by the Black-Scholes option-pricing model, Christensen's stock is largely held by the owners and neither the company's the related stock options are actively traded. Required: a. Identify the fair value input for the following accounts. Available-for sale stock portfolio. Identify the valuation levels for each of the identified inputs as well as the accounts as a whole (i.e., Level 1, level 2, or level 3)