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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: Beginning

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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: Beginning of the Year End of the Year Total Assets 5550.000 $598,000 Total Liabilities 210,000 215.000 Total Equity 340,000 383000 Net Income for the Year 88.500 Common Shares Outstanding 21000 21000 You discovered that they have not adjusted for estimated bad debt expenses of $7.200. For each of the following ratios, calculate 1 The ratio that would have resulted had the error not been discovered in the incorrect ratio). 2. The correct ratio B D Correct [incorect 2 ROA 3 ROE 4 Debt Ratio 5 EPS 6 7 9

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