Which of the following statements is (are) true?

I. Retirement plan assets make up approximately 5% of the Grahams' total assets.

II. Given their age and income profile, one would expect the Grahams to have a substantially higher level of net worth.

III. The Grahams' saving ratio, including reinvested dividends and interest, is below the industry benchmark levels.

IV. The Grahams' emergency fund ratio is adequate at this time.

a. I and II only

b. II and III only

c. I and IV only

d. I, III, and IV only