Read the following dialogue.

Caio: Have you seen Joana lately?

Ramon: I hadn’t, but I heard she borrowed some money from the bank.

Caio: But what about her inheritance?

Ramon: Word has it she frittered all away.

Caio: That’s crazy!

Ramon: Yeah, I know.

Based on this dialogue, analyze the assertions below.

I. In “she frittered all away”, Ramon intends to say that Joana squandered all her inheritance.

II. Ramon correctly uses auxiliary verbs in his first and last lines.

III. “Lately” is a time adverb in Caio’s fist line.

The CORRECT assertion(s) is(are):