Pro forma statements for a proposed project should:
I. be compiled on a stand-alone basis.
II. include all the incremental cash flows related to the project.
III. generally exclude interest expensE.
IV. include all project-related fixed asset acquisitions and disposals.
A. I and II only
B. II and III only
C. I, II, and IV only
D. II, III, and IV only
E. I, II, III, and IV