Investment in Arroyo Company stock Cost (at purchase date) Fair Value (at December 31) $107,000 $88,000 Investment in Lee Corporation stock 230,000 278,000 Investment in Woods Inc. stock 190,000 200,000 Total $527,000 $566,000 (Assume a zero balance for any Fair Value Adjustment account.) (a) (b) What entry would Indigo make at December 31, 2020, to record the investment in Arroyo Company stock if it chooses to report this security using the fair value option? What entry would Indigo make at December 31, 2020, to record the investments in the Lee and Woods corporations, assuming that Indigo 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 O for the amounts.) No. Account Titles and Explanation (a) Unrealized Holding Gain or Loss - Income Debit Credit (b) Equity Investments Unrealized Holding Gain or Loss - Income