Pink Partners Holds Equity Investment with a Carrying Value of $39,000

Pink Partners holds equity investment with a carrying value of $39,000. The investment has no readily determinable value. The current fair value of the investment is $24,000. There is objective evidence of an impairment. Should an impairment loss be recorded? How much of this loss should be classified in net income and how much should be classified in other comprehensive income?

A) Yes, the $15,000 impairment loss should be reported as part of net income.
B) No, an impairment loss should not be recorded because this is an equity investment.
C) Yes, the $15,000 impairment loss should be split evenly between net income and other comprehensive income.
D) Yes, there is an impairment loss of $15,000 which should be reported as Other Comprehensive Income.