Which of the following is/are correct?

I. A statement of cash flow prepared using the direct method produces a different figure for operating cash flow than that produced by the indirect method.
II. Rights issue of shares does not feature in the statement of cash flow.
III. Revaluation surplus of a non-current asset is not recognized as an item in the statement of cash flow.
IV. A profit on the sale of a non-current asset is recognized as an item under cash flows from investing activities in a cash flow statement.

A. I and IV
B. II and III
C. II and IV
D. III
E. I and III