For NewWay, Inc.'s proposed project, its pro forma financial statements should _____________.

I. include interest expense II. be compiled on an aggregate basis III. include all the incremental cash flows related to the project IV. include all project-related fixed asset acquisitions and disposals

Multiple Choice

• II, III, and IV only

• I, II, III, and IV

• I, II, and IV only

• III and IV only

• I and III only