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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: Total
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 Llabilities Total Equity Net Income for the Year Common Shares Outstanding Beginning of the Year $550,000 210,000 340.000 End of the Year $568.000 201,000 367000 84,500 22.000 22.000 You discovered that they have not adjusted for estimated bad debt expenses of $9,000. For each of the following ratios. calculate 1. The ratio that would have resulted had the error not been discovered (e. the inco 2. The correct ratio incorrect ratio) A D 1 Correct Incorrect 2 ROA 3 ROE Debt Ratio 5 EPS b
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