The following information is available for Quigley Company at December 31, 2025, regarding its investments: Securities 500 shares of Runner Corporation common stock 7,000 shares of Sher-tor Corporation preferred stock The company did not have any investments prior to 2025. Instructions Cost Fair Value $25,000 $40,000 $650,000 $620,000 $675,000 $660,000 Prepare the adjusting entry (if any) for 2025, assuming neither investment results in significant influence over the companies whose equity is held. PLEASE SHOW WORK

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