Which of the following is a true statement regarding the cash flow statements of a proprietary fund?

1. Reconciliation is required between the Statement of Revenues, Expenses, and Changes in Fund Net Assets and the cash flows from operating activities section of the Cash Flow Statement.

2. The gain from the sale of equipment would be reported in the investing section.

3. Interest receipts are reported as increases in cash flows from either capital and related financing or noncapital financial activities, whichever is appropriate.

4. None of the above