On December 31, 20X5, Gretta Inc., which reports its financial results in accordance with IFRS, had an investment at FVOCI-elect in Gidget Corp. Gretta initially paid $13,000 for the investment. Its fair value at December 31, 20X5, was $14,000. On February 15, 20X6, Gretta sold its investment in Gidget for $14,600. Grettas policy is to transfer previously unrealized holding gains and losses to retained earnings when the investment is derecognized. The journal entry to record the sale of the investment in Gidget would include which of the following?

a) Credit gain on sale P&L for $600

b) Debit OCI $1,000 (net)

c) Credit gain on derecognition P&L for $1,600

d) Credit retained earnings $1,600