Given below are two statements
Statement I - A stepwise release of chemical bond energy facilitates the utilization of a relatively higher proportion of that energy in ATP synthesis.
Statement II - Due to stepwise oxidation of respiratory substrate, the same pathway may be used for synthesis of another biomolecule.
In light of above statements, select the correct answer from the options given below.

1. A Both statement I and statement II are correct.
2. B Both statement I and statement II are incorrect.
3. C Statement I is correct and statement II is incorrect.
4. D Statement I is incorrect and statement II is correct.