Required information [The following information applies to the questions displayed below.) Fausett Electronics, Inc., 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: Prior Year CONSOLIDATED BALANCE SHEETS ($ in millions) Current Year ASSETS Property and Equipment Land and buildings $ 763 Leasehold improvements 2,025 Fixtures and equipment 4,071 Property under capital lease 115 6,974 Less accumulated depreciation Net property and equipment $ 727 1,751 3,047 5,574 2,769 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? (Enter your answer in millions.) Depreciation expense million 2. Assume that Fausett Electronics failed to record depreciation during the current year. Indicate the effect of the error (i.e., overstated or understated) on the following ratios: (Select "NE" if there is no effect.) a. Earnings per share. b. Fixed asset turnover. C. Current ratio. d. Return on assets