Pick up the correct statement from the following:

• The financial ratio summarises some aspect of the firm's financial condition at the time of preparing a balance sheet.
• Both the numerator and denominator of financial ratios come directly from the balance sheet.
• Income statement ratios compare one 'flow' item from the income statement to another flow item from the income statement.
• Income statement ratios compare a flow item from the income statement to another flow item form the income statement
• All of these