Ramirez Company has an investment in 6%, 10-year bonds of Soto Company. The investment was originally purchased at par for $100 in 2013 and it is accounted for at amortized cost. Early in 2014, Ramirez recorded an impairment on the Soto investment due to Soto's financial distress. At that time, the present value of the cash flows discounted using the original effective interest rate was $90, and the present value of the cash flows using the then current market rate was S9!. In 2015, Soto returned to profitability and the Soto investment was no longer considered impaired. Prepare the entries Ramirez would make in 2014 and 2015 under
(a) ASPE,
(b) IAS 39, and
(c) IFRS 9.