How do pro forma financial statements differ from historical financial statements? 1) Pro forma financial statements emphasize expected cash inflows and outflows, while historical financial statements emphasize actual cash inflows and outflows. 2) Pro forma financial statements are based on assumptions while historical financial statements are not based on any assumptions 3) Pro forma financial statements focus on past financial performance and position, while historical financial statements focus on future performance and position. 4) Pro forma financial statements may disclose liabilities that have not yet occurred, while historical financial statements disclose primarily liabilities that have already occurred