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: Total Assets Total Liabilities Total Equity Net Income for the Year Common Shares Outstanding Beginning of the Year $550,000 210,000 340,000 End of the Year $557,000 208,000 349.000 106,100 22.000 22.000 You discovered that they have not adjusted for estimated bad debt expenses of $8,600. 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. A D E 1 Incorrect: Correct: 2 ROA ROE 3 4 Debt Ratio 5 EPS 6 7 8 9 10