Which One of the Following Statements Is Correct

Multiple Choice

Which one of the following statements is correct?

A) Pro forma statements must assume that no new equity is issued.
B) Pro forma statements are projections, not guarantees.
C) Pro forma statements are limited to a balance sheet and income statement.
D) Pro forma financial statements must assume that no dividends will be paid.
E) Net working capital needs are excluded from pro forma computations.