Page 37 presents the Independent Auditor's report.The accounting firm of Ernst and Young was the group of Certified Public Accountants (CPAs) that audited Smucker's financial statements.Which of the following statements best describes the opinion of the CPAs regarding the financial statements? (1) Smucker's financial statements are correct. (2) Smucker's financial statements are free from both fraud and errors. (3) Smucker's financial statements are correct for transactions based in US currency but cannot be audited for transactions based in foreign currencies. (4) Smucker's financial statements fairly present the company's financial position and results of operations, at least related to material transactions and events.