Which one of the following statements is correct? 1) Peer group analysis is easier when a firm is a conglomerate versus when it has only a single line of business. 2) Peer group analysis is easier when seasonal firms have different fiscal years. 3) Peer group analysis is simplified when firms use varying methods of depreciation. 4) Adjustments have to be made when comparing the income statements of firms that use different methods of accounting for inventory. 5) Comparing results across geographic locations is easier since all countries now use a common set of accounting standards