Which of the following statements are correct? (1) A statement of cash flows prepared using the direct method produces a different figure for operating cash flow from that produced if the indirect method is used.; (2) Rights issues of shares do not feature in statements of cash flows.; (3) A surplus on revaluation of a non - current asset will not appear as an item in a statement of cash flows; (4) A profit on the sale of a non — current asset will appear Activities in a statement of cash flows.

• A.1 and 4
• B.2 and 3
• C.3 only
• D.2 and 4