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:

You discovered that they have not adjusted for estimated bad debt expenses of $9200 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.

to you. The summary is as follows: 340,000 121,400 22,000 1. The ratio that 2. The correct ratio