Question 2 (4 points) Which of the following statements are false? 1. A firm that has never earned a profit will have negative retained earnings. 2. A firm's marginal tax rate is the percentage of taxes paid on the next dollar in income. 3. A firm with a profit (positive net income) may still have negative operating cash flows. 4. Plant and equipment is an example of an intangible asset. Statement one (1) is false. Statement two (2) is false. Statement three (3) is false. Statement four (4) is false