Exercise 17-19 Presented below is information related to the purchases of common stock by Sandhill Company during 2017 Cost (at purchase date) Fair Value (at December 31) Investment in Arroyo Company stock Investment in Lee Corporation stock Investment in Woods Inc. stock $102,000 253,000 192,000 $547,000 $80,000 301,000 201,000 $582,000 Total (Assume a zero balance for any Fair Value Adjustment account.) (a) What entry would Sandhill make at December 31, 2017, to record the investment in Arroyo Company stock if it chooses to report this security using the fair value option? (b) What entry would Sandhill make at December 31, 2017, to record the investments in the Lee and Woods corporations, assuming that Sandhill did not select the fair value option for these investments? (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No. Account Titles and Explanation Debit Credit