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 $550,000 210,000 340,000 Total Assets Total Liabilities Total Equity Net Income for the Year Common Shares Outstanding End of the Year $555,000 210,000 345,000 98,600 21,000 21,000 You discovered that they have not adjusted for estimated bad debt expenses of $9,500. 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 B C D E 1 Incorrect: Correct: 2 ROA 3 ROE 4 Debt Ratio 5 EPS 6 7 8