Presented below is information related to the purchases of common stock by Culver Company during $2025.$

$($Assume a zero balance for any Fair Value Adjustment account at the beginning of $2025.)$

$($a$)$ What entry would Culver make at December $31,2025,$ to record the investment in Arroyo Company stock if it chooses to

report this security using the fair value option?

$($b$)$ What entry would Culver make at December $31,2025,$ to record the investments in the Lee and Woods corporations,

assuming that Culver did not select the fair value option for these investments?

$($List all debit entries before credit entries. 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

$($a$)$

$($b$)$