Given below are selected data from the comparative income statement and balance sheet for Titanic Corporation for the years ended December 31, 2021 and 2020:

	2021 (RM)	2020 (RM)
Net sales (all on credit) Cost of goods sold Gross profit Income from operations Interest expense Net income Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Total long-term assets Total current liabilities Total long-term liabilities Common stock, no par Retained earnings	96,000 51,300 44,700 16,300 3,000 9,800 2,700 10,700 25,000 1,000 39,400 50,000 39,000 15,000 *10,000 25,400	93,000 52,500 40,500 15,000 3,500 9,000 3,500 12,500 30,000 900 46,900 67,000 49,500 25,000 10,000 29,400

*NOTE: 1,000 shares of common stock have been issued and outstanding since the company started operations. During the entire fiscal year ended December 31, 20X8, the stock was selling for $45 per share.

2. Discuss the companys performance and suggest ways for further improvement where necessary. [20 marks](at least 400 words)