Answer the required question $1$ Question $2$ Interpreting Ratios $($P$12-7)$ Leon's Furniture Limited is a leading Canadian full$-$line furniture retailer. The company sells home furnishings, major appliances, and home electronics through more than $300$ company$-$owned and franchised stores across Canada. Its sales grew from $$289$ million when it became a public company in $1996$ to over $ $2\mathrm{.}5$ billion in $2021.$ Leon's financial statements for $2020$ and $2021$ are shown on the next few pages. Required: $1.$ Examine Leon's statements of financial position. Identify the four largest changes in the carrying amount of assets, liabilities, and shareholders' equity between the two dates of the statements of financial position. What type of transactions could have caused the changes in the carrying amount of these items?$3.$ Using information from the company's statements of financial position and statement of earnings for $2021,$ can you determine the amount of cash flow generated from operations? If not, where can you find such information? The company's notes to its financial statements indicate that depreciation of$5110,202.$ and thut amortization of intant ble ancts is $51\mathrm{.}810$ LABILTES AND SHAREHOLDERS: EOUITY Liabllieles Current liablities $20212020$ Loans and borrowings $-90000$ Comvertible debentures $-441$ Lease Habilities $291,334327,227$ Deferred wortanty plan revenue $99\mathrm{.}84088,604$ Redeemable share liability $1313$ Deferred income tax liabilitios $71,00975,562$ Total non$-$current liabillties $462\mathrm{.}196581,847$ Total liabillties $1\mathrm{.}661,9401,402\mathrm{.}5863|$l$|$ Shareholders' equity Common shares $149,966164,669$ Equity component of convertibie debentures $-31$ Retained earnings $627,243842,604$ Accumulated other comprehensive income $13,9848\mathrm{.}690$ Total shareholders' equity $791\mathrm{.}1931,016\mathrm{.}003$ Total liabilities and shareholders' equity $ $2,453,133$ $ $2,418,589$ atermants. Soutce: Leon's Furnture Limated, Annual Report $2021.$Analyzing Ratios $($P$12-3)$ Coca$-$Cola and PepsiCo are well$-$known international beverage and snack companies. Compare the two companies as a potential investment based on the following ratios: