Which of the following is a true statement about accounting changes?

1. When P changes investment accounting from the AFS to the equity method, P must retroactively restate results from prior periods that are shown on a comparative basis.
2. When P changes its depreciation method from MACRS to straight line, it must restate the financial statements from prior periods shown on a comparative basis
3. when P changes its calculation of bad debt expense from .5% to 1% of credit sales, and must restate financial statements from a prior period that are shown on a comparative basis.
4. If P discontinues consolidating S company after its ownership share drops below 50% it is not required to restate prior financial statements shown on a comparative basis