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: 2. Assume that Fausett Electronics failed to record depreciation during the current year. Indicate the effect of the error (l.e. overstated or understated) on the following ratios: 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: 2. Assume that Fausett Electronics failed to record depreciation during the current year. Indicate the effect of the error (l.e. overstated or understated) on the following ratios