Use the following financial statements to answer this question

Green Shield Corporation Income statements For years ended December 31, Year 5, and Year 6
($ thousands)	Year 5	Year 6
Sales	$818,149	$891,127
COGS and operating expenses	736,646.5	799,339.5
Interest expense	10,912.5	10,421.5
Pretax profit	70,590	81,366
Net income	44,471.5	52,074

Green Shield Corporation Balance Sheets At December 31, Year 5 and Year 6
($thousands)	Year 5	Year 6
Assets
Cash	$57,698.5	$35,773
Marketable securities	19,004	21,927
Accounts receivables, net	88,769	91,429.5
Inventories	102,181	128,419
Total current assets	267,652.5	277,548.5
Marketable securities	19,829.5	59,693.5
Property, plant, and equipment, net	769,610.5	816,729
Goodwill	3,275	3,275
Total long-term assets	792,715	879,697.5
Total assets	$1,060,367.5	$1,157,246
Liabilities
Notes payable	$3,925	$6,867
Accounts payable	69,331	77,741
Taxes payable	12,185	6,628
Current maturities of long-term debt	15,220	16,911
Total current liabilities	100,661	108,147
Long-term debt	253,664.5	236,753.5
Pension liabilities	371,889.5	426,118.5
Total long-term liabilities	625,554	662,872
Equity
Common stock	206,891.5	206,891.5
Additional paid-in capital	9,604	9,604
Retained earnings	218,376	270,450.5
Treasury stock	(100,719)	(100,719)
Total stockholders equity	334,152.5	386,227
Total liabilities and equity	$1,060,367.5	$1,157,246

REQUIRED

a) Calculate RNOA

b) Calculate RNOA by disaggregating it to its different components

c) Evaluate the effect of financial leverage on ROE, is the company taking advantage of debt at its current level or not? Support you answer with detailed calculations as well as explanation.