Bradley Enterprises pays a fixed percentage of its net income out to its shareholders in the form of annual dividends. Given this, the dividend percent on a common$-$size income statement will:

I. remain constant over time.

II$.$ be equal to the dividend amount divided by the net income.

III. vary in direct relation to the net profit percent.

IV$.$ vary if either the dividend amount or the sales amount varies.

$($Which of these are true$)$