On Dec 31, 2012 Parent Company owned 51% of Kid Company, and reported its investment on a non-consolidated basis due to political uncertainties in the country that Kid Company was located. On January 2, 2014 the management of Parent Company was satisfied that the political uncertainties were resolved and the assets were no longer in danger of nationalization. Accordingly Parent will prepare consolidated financials for 2014. 1. Describe the type of change. 2. How it should be reported under GAAP and how amounts should be computed. 3. Effects on the income statement and balance sheet. 4. Footnote disclosure if necessary.