Please fix the incorrect answers of this question.

LALEDLAT TOR PRINTER VERSION . BACK xercise 17-19 Your answer is partially correct. Try again. Presented below is information related to the purchases of common stock by Cullumber Company during 2017 Cost (at purchase date) Fair Value Investment in Arroyo Company stock Investment in Lee Corporation stock Investment in Woods Inc. stock $90,000 229,000 188,000 $507,000 (at December 31) $69,000 279,000 99,000 $547,000 Total (Assume a zero balance for any Fair Value Adjustment account.) (a) What entry would Cullumber make at December 31, 2017, to record the investment in Arroyo Company stock if t chooses to report this secunity the fair value option? (b) What entry woul Cullumber maike at Decembor 31, 2017, to record the investments in the Lee and Woods corporations, assuming that Cullumber di is entered. Do not indent manually. It no entry is required, select "No Entry not select the fair value option for these investments? (Credit account titles are automatically indented when amount is for the account titles and enter O for the amounts.) No. Account Titles and Explanation (a) Unrealized Holding Gain or Loss-Income Debit Credit 2100 2100 Fair Value Adjustment Cost Fair Value NEXT Investment in Arroyo Company stock Investment in Lee Corporation stock Investment in Woods Inc. stock (at purchase date) $90,000 229,000 188,000 $507,000 (at December 31) $69,000 279,000 199,000 $547,000 Total (Assume a zero balance for any Fair Value Adjustment account.) (a) what entry would Cullumber make at December 31, 2017, to record the investment in Arroyo Company make at December 31, 2017, to record the investment in Arroyo Company stock if it the fair value option? chooses to report this security using (b) What entry would Cull umber make at December 31, 2017, to record the investments in the Lee and Woods corporations, assuming that Culumber did not select the fair value option for these investments? for the account tities and enter o for t radeotend hen ameunt is entered. Do not indent manualy no entry le required, select 'No Entry manualy "no entry for the account titles and enter O for the amounts No. Account Titles and Explanation (a) Unrealized Holding Gain or Loss Income ea seted Debit Credit 2100 Fair Value Adjustment 2100 (b) TNo Entry no entry