Which of the statements below is FALSE?

A) Forecasted accounting statements are called pro forma financial statements.

B) We use the projected sales for the past year as the starting point for all the income statement lines.

C) We use the prior year's financial statements to find the relationship or relative percentage of each line (accounting category) to either the sales revenue or the total assets of the firm.

D) Forecasted accounting statements are called pro formas for short.