Which of the following statements relating to financial statement analysis is NOT true?

	1.	One of the shortcomings to the DuPont System based on AASB / IFRS financial statements is that the income figure includes both operating and financial income
	2.	Based on the DuPont System applied to the reformulated financial statements, there are four drivers of a firms ROCE, profit margin, asset turnover, financial leverage, and the net cost of borrowing
	3.	Operating leverage (OLEV) and operating liability leverage (OLLEV) both refer to the use of operating liabilities as a source of financing
	4.	A given level of RNOA can be achieved from various combinations of the operating profit margin after tax and the asset turnover ratio