A word and number arrangement machine when given an input line of numbers and words rearranges them following a particular rule in each step. The foll...

A word and number arrangement machine when given an input line of numbers and words rearranges them following a particular rule in each step. The following is an illustration of input and rearrangement:

Input: 5247 CROSS 3827 PRANK 8425 APART 2843 FIXED 9832 OLIVE 64534 CROSS 4952 FIXED 81941 PRANK
Step I: 26355 BOBQS
Step II: 25356 APART 9936 OLIVE 64534 CROSS 4952 PKJU
Step III: 8 13 QS 6 21 PKJF 14 8 BQP 50 BQJ
Step IV: 161 QS 435 FJKP 50 BQ
Step V: 164 438 54 194 112

Step V is the last step of the given arrangement. Based on this logic, rearrange the given input.

Input: 8548 UNITY 4369 FRAME 3657 EVENT 5378 SPOIL 6878 PLAN Which among the following statement(s) is/are correct?**
I. Three words start with the letter which comes after “M” in alphabetical series in step III
II. More than two odd numbers are found in step V
III. More than two even numbers are found in Step IV