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 $608,000 Total Liabilities 210,000 207,000 Total Equity 340,000 401,000 Net Income for the Year 119,200 Common Shares Outstanding 22,000 22,000 You discovered that they have not adjusted for estimated bad debt expenses of $8,800. For each of the following ratios, calculate: 1. The ratio that would have resulted had the error not been discovered (ie the incorrect ratio). 2. The correct ratio B D E Correct: 1 Incorrect 2 ROA 3 ROE Debt Ratio EPS 5 6