Required financial statements of funds may include the following, among others: I. Statement of net assets II. Statement of revenues, expenditures, and changes in fund balances III. Balance sheet IV. Statement of cash flows The financial statements that should be issued by governmental funds and by proprietary funds include the following: Governmental Funds Proprietary Funds A) II and III I and IV B) I and II I and II C) I, II, and IV II, III, and IV D) II and III I, II and IV A) Option A B) Option B C) Option C D) Option D