Direction: In the question below are given four statements followed by four conclusions numbered I, II, III and IV. You have to take the given statements to be true even if they seem to be at variance with commonly known facts. Read all the conclusions and then decide which of the given conclusions logically follows from the given statements disregarding commonly known facts.

Statements: 

I. All James are Holmes.

II. No Sherlock is Mycroft.

III. All Sherlock is James.

IV. No James is Watson.

Conclusions:

I. Some Mycroft are James.

II. All Holmes being Watson is a possibility.

III. No Mycroft is James.