Company purchased 15% of the voting common stock of Shorne Corp., a private company with no readily determinable fair value. On January 1, Year 3, Fermot purchased 28% of Shornes voting common stock. If Fermot achieves significant influence with this new investment, how should Fermot account for this investment?

	a.	It must use the equity method for Year 3 but should make no changes in its financial statements for Years 1 and 2
	b.	It should prepare consolidated financial statements for Year 3.
	c.	It must restate the financial statements for Years 1 and 2 as if the equity method had been used for those two years.
	d.	It may continue to use the cost or fair value methods.