Determine whether each of the following statements is true of false and correct the false statement(s); Statement T/F Correction (if false) 1) External users of financial statements such as investors and creditors 2) A liability is a resource with financial value that is owned by a business with the expectation that it will provide future financial benefit. 3) Ratio analysis, vertical analysis and horizontal analysis are techniques, tools or methods of analysis and interpretation of financial statements 4) Investments by shareholders increases the equity 5) dividends increase the equity