Presented below is selected information related to the financial instruments of Marigold Company at December 31,2025 . This is Marigold Company's first year of operations. (a) Marigold elects to use the fair value option for these investments. Assuming that Marigold's net income is $109,000 in 2025 before reporting any securities gains or losses, determine Marigold's net income for 2025 . Assume that the difference between the carrying value and fair value is due to credit deterioration. Marigold's net income for 2025 \$ (b) Record the journal entry, if any, necessary at December 31, 2025, to record the fair value option for the bonds payable. (List debit entry before credit entry. 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 Of for the amounts.)