Which of the following statements about the reformulated financial statements is TRUE? 1. The only use available to the firm for its surplus free cash flow (FCF) is to return it to the shareholders by either paying a larger dividend or by repurchasing shares 2. Operating cash should always be calculated as 0.5% of sales 3. Free cash flow (FCF) generated from operations must be used in the firm's financing activities 4. Dividends payable should appear in the reformulated Balance Sheet as a financial obligation