Which of the following statements are correct under the market multiples methodology? Assume that the comparisons are made using well-constructed peer groups and that the market is efficient. I. Firms with low profit margins would appear cheap on a price-to-sales basis. II. Firms with high rates of growth would appear expensive on a P/E basis. III. Riskier firms would exhibit lower P/E and EV-to-EBITDA ratios. IV. Firms with more profitable investments will have higher Tobins Q ratios.