; and (ii) has a class of equity security held of record by 500 or more persons who are not accredited investors, but less than 1,250 persons who are not accredited investors. (B) Contents The form described under subparagraph (A) shall include a summary of the consolidated balance sheet and the consolidated income statement of the issuer, and such other information as the Commission determines is necessary and appropriate in the public interest and for the protection of investors. . 3. SEC Study (a) Study After the end of the 3-year period beginning on the date of enactment of this Act, the Securities and Exchange Commission shall carry out a study on— (1) the effect of the amendments under section 2; and (2) to what extent those changes have improved capital formation by the issuers described under section 12(g)(1)(C) of the Securities Exchange Act of 1934. (b) Report Not later than the end of the 180-day period beginning after the end of the 3-year period described under subsection (a), the Commission shall issue a report to the Congress containing— (1) all findings and determinations made in carrying out the study required under subsection (a); and (2) a recommendation as to whether issuers in other sectors of the economy could also benefit from the sort of changes made by the amendments under section 2.