(b) The Commission may adopt, modify, or set aside the findings, conclusions and order in the initial decision, and will state the basis of its action. The final decision will be in writing and will include:

1. (1) A statement of findings and conclusions, with the basis for them on all material issues of fact, law or discretion presented;
2. (2) All facts officially noticed;
3. (3) The ruling on each material issue; and
4. (4) The appropriate ruling, order, or denial of relief, with the effective date.