Company A's balance sheet and income statement for the fiscal year ending 2021 show the following:

- Net Income: $15,000,000

- Total Assets: $75,000,000

- Total Revenue: $200,000,000

- Net Revenue: $50,000,000

Substantive audit procedures have been competed for Company A. During your test work, you noted 5 items that were misstated. These are the items:

1. Misstatement #1: $45,001 in revenue

2. Misstatement #2: $600,000 in revenue

3. Misstatement #3: $86,253 in revenue

4. Misstatement #4: $27,251 in accounts payable

5. Misstatement #5: $102 in accounts payable

Select from the following which are TRUE:

I. Revenue is materially misstated by $731,254

II. Accounts payable is materially misstated by $27,353

III. Accounts payable is not materially misstated

IV. Misstatement #5 is not material and not included

V. Misstatement #4 is materially misstated