Mr. Henry, the owner of a local store, opposes his accountant's recommendation that leases with lease terms longer than 1 year shou recorded on his company's (lessee) balance sheet as assets and liabilities. He posits that the leases should NOT be recognized, becau according to the lease contracts, the legal titles of the leased assets do not transfer from the lessors to his company (the lessee). Do y agree with Mr. Henry's position? Briefly explain