When forecasting dividends, analysts often

A. Assume no dividends will be paid in the absence of company guidance

B. Use the dividend payout ratio, since it cannot be influenced by managerial incentives

C. Follow the company guidance and use the dividend payout ratio if the company has not issued guidance

D. All of the above

Pro forma income statements

A. Can be helpful to investors in isolating the effects of unusual or one time events

B. Are often used as tools for earnings management because they are not bound by conservatism

C. Are often to difficult for investors to reconcile to the GAAP income statement

D.All of the above