code optimisation - stuck.

Folks,

Here is another section of code:

int light_toggle(int fctn)
{
    static int Light_status;
    if (fctn == 0)
    {
      return Light_status;
    }
    sleep_time(10,1);
    if (fctn == 1)
    {
       Light_status = Light_status +1;
       Light_status = Light_status%2;
       if (Light_status==0)    
       {
            CS.digitalWrite(1, LOW);
       }
       if (Light_status==1)    
       {
            CS.digitalWrite(1, HIGH);
       }
    }
    return;
}

Now what I am wondering is with the if { } if { } and all that.

But I could make it more like:

int light_toggle(int fctn)
{
    static int Light_status;
    if (fctn == 0)
    {
      return Light_status;
    }
    sleep_time(10,1);
    if (fctn == 1)
    {
       Light_status = Light_status +1;
       Light_status = Light_status%2;
       CS.digitalWrite(1, Light_status);
    }
   return
}

And save all those lines.

Are there any known pros and cons to either way?