4 Part 1 of 2 1 points Required information [The following information applies to the questions displayed below.] Fausett Electronics, Incorporated, headquartered in Richfield, Minnesota, is one of the leading consumer electronics retailers, operating more than 1,000 stores across the globe. The following was reported in a recent annual report: CONSOLIDATED BALANCE SHEETS (5 in millions) Current Year Prior Year ASSETS eBook Property and Equipment Land and buildings $750 $717 Print Leasehold improvements. 2,031 1,735 Fixtures and equipment 4,067 3,041 References Property under capital and finance leases 131 61 6,987 5,554 Less accumulated depreciation 2,782 2,301 Net property and equipment 4,205 3,253 Required: 1. Assuming that Fausett Electronics did not sell any property, plant, and equipment in the current year, what was the amount of depreciation expense recorded during the current year? Note: Enter your answer in millions. Depreciation expense million 5 Part 2 of 2 [The following information applies to the questions displayed below.] Fausett Electronics, Incorporated, headquartered in Richfield, Minnesota, is one of the leading consumer electronics retailers, operating more than 1,000 stores across the globe. The following was reported in a recent annual report: 1 points eBook Pilet References CONSOLIDATED BALANCE SHEETS (5 in millions) Current Year Prior Year ASSETS Property and Equipment Land and buildings $758 $717 Leasehold improvements 2,031 1,735 Fixtures and equipment 4,067 3,041 Property under capital and finance leases 131 61 6,987 5,554 Less accumulated depreciation 2,782 2,301 Net property and equipment 4,205 3,253 2. Assume that Fausett Electronics failed to record depreciation during the current year. Indicate the effect of the error (.e., overstated or understated) on the following ratios: a. Eamings per share. b. Fixed asset turnover. c. Current ratio. d. Return on assets