Which of the following statements is true? 1.Internal growth rate is always smaller than sustainable growth rate. II. In the Smucker's case, depreciation rate is 8%. If everything else remains the same, but that rate changes from 8% to 9.5%, then the total free cash flow would increase. III. When regressing operating costs against sales, Excel reports R-square being 0.95 and p- value being 0.12. Therefore the regression approach is not valid to estimate fixed and variable costs. IV. Yankee Corp. has greatly increased its quick ratio, but the cash ratio has fallen. This is caused by the firm building up its inventory. I and Ill only I and Ill only I, III and IV only I, II, and ill only I and IV only has Which of the following statements is true? 1.Internal growth rate is always smaller than sustainable growth rate. II. In the Smucker's case, depreciation rate is 8%. If everything else remains the same, but that rate changes from 8% to 9.5%, then the total free cash flow would increase. III. When regressing operating costs against sales, Excel reports R-square being 0.95 and p- value being 0.12. Therefore the regression approach is not valid to estimate fixed and variable costs. IV. Yankee Corp. has greatly increased its quick ratio, but the cash ratio has fallen. This is caused by the firm building up its inventory. I and Ill only I and Ill only I, III and IV only I, II, and ill only I and IV only has