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The accounting department of your company has just delivered a draft of the current year's financial statements to you. The summary is as follows: of

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The accounting department of your company has just delivered a draft of the current year's financial statements to you. The summary is as follows: of the Year of the Year otal Assets otal Liabilities Total 550,000 210,000 340,000 201,000 40,000 7.700 21,000 t Income for the Year Shares Out 21,000 You discovered that they have not adjusted for estimated bad debt expenses of $8,700. For each of the following ratios, calculate: 1. The ratio that would have resulted had the error not been discovered i.e. the incorrect ratio). 2. The correct ratio. Correct 2 ROA 3 ROE 4 Debt Ratio 5 EPS 10

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