Below are the financial statements for the financial year 2020 and 2021. Statement of Financial Position as at January 31, 2019 and 2020 2021 2020 Current Assets Cash and cash balances 33,500 2,550 Account receivable 110,100 108,150 Inventories 17,000 7,140 Other receivables and prepaid expenses 83,700 176,320 Fixed deposits with licensed banks 228,500 167,240 Total current assets 472,800 461,400 Property, plant and equipment 1,860,000 619,500 Total Assets 2,332,800 1,080,900 Current Liabilities Account Payables 60,400 27,410 Other payables and accrues expenses 65.600 56,390 Notes payables 27,800 46,800 Total current liabilities 153,800 130,600 Long term Liabilities Long term borrowings 490,500 144,700 Convertible bonds 342,980 Hire purchase payables 106,920 76,600 Total long term liabilities 940,400 221,300 Shareholders' equity: Issued capital 253,500 201,000 Share premium 541,800 425,000 Retained earnings 443,300 103,000 Total liabilities and owners' equity 2,332,800 1,080,900 Statement of Profit and Loss and Other Comprehensive Income for the year ended January 2020 and 2021 2021 2020 Revenue 550,100 346,100 Cost of sales (386,200) (232,800) Gross profit 163,900 113,300 Administrative expenses (15,800) (9,500) Other operating expenses (18,200) (7,200) Other operating income 11,200 1,100 Profit from operation 141,100 97,700 Finance costs Profit before tax Income tax expenses Profit after tax (21,500) (10,000) 119,600 87,700 (35,500) (24,200) 84,100 63,500 b. Critically discuss the corporation's leverage position and profitability performance for the financial year 2021 in comparison to the year 2020