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: Beginning of the Year End of the Year Total Assets |$550,000 $574,000 Total Liabilities 210,000 211,000 Total Equity 340,000 363,000 Net Income for the Year 88,400 Common Shares Outstanding 22,000 22,000 You discovered that they have not adjusted for estimated bad debt expenses of $9,400. For each of the following ratios, calculate: 1. The ratio that would have resulted had the error not been discovered (.e. the incorrect ratio). 2. The correct ratio. B D E 1 Incorrect Correct 2 ROA ROE 3 Debt Ratio EPS 5 7 8 9 10