Consider the following statements with reference to the 1857 Revolt in Andhra:

I. The educated community in the Andhra region showed their support for the British.
II. Most of the Zamindars opposed British rule because the Permanent Settlement had diminished their authority.
III. Common people appreciated the Company for giving them stable governance, especially when comparing it to the chaos of Muslim rule.
IV. The loyalty of the South's sepoys played a crucial role in securing India for the British.
Which of the statements given above is/are correct ?