Which of the following statements are false? 1. When a retailer purchases merchandise to sell to customers its current assets increase, but there is no change to net income. 2. Plant and equipment is an example of an intangible asset. 3. Shareholders equity decreases whenever new shares of stock issued. 4. The book value of assets is based on market values or current costs. Statement one (1) is false. Statement two (2) is false. Statement three (3) is false. Statement four (4) is false