18. When projecting financial statements, one would first a. project the balance sheet; forecast sales b. forecast sales; project the income statement c. forecast sales; project the balance sheet d. forecast sales; project the statement of cash flows and then proceed to 19. The valuation approach involving discounting present value cash flows for risk and delay is called discounted cash flow (DCF). a. True b. False 20. Post-money valuation is the pre-money valuation of a venture plus all monies previously contributed by the venture's founders. a. True b. False