Which of the following is not correct about adjusting for leases in financial statements?

		An analysts appropriate adjustments for operating leases would be to increase assets, increase liabilities, and increase operating income.
		With respect to operating leases, adjusting the financial statements makes ROIC and free cash flow independent of capital structure choices, specifically whether to lease, own, or borrow
		Since valuation is not affected by the treatment of operating leases, capitalizing operating leases is not a useful activity for analysts.
		When accounting for operating leases, the present value of lease payments is recorded as a right-of-use asset.