13. Club Co. appropriately uses the equity method to account for its investment in Chip Corp. As of the end of 2013, Chip's common stock had suffered a significant decline in fair value, which is expected to be recovered over the next several months. How should Club account for the decline in value? A. Club should switch to the fair-value method. B. No accounting because the decline in fair value is temporary. C.Club should decrease the balance in the invesunent account to the current value and recognize a loss on the income statement. D.Club should not record its share of Chip's 2013 earnings until the decline in the fair value of the stock has been recovered. E. Club should decrease the balance in the investment account to the current value and recognize an unrealized loss on the balance sheet