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 Liabilities Total Equity Net Income for the Year Common Shares Outstanding Beginning of the Year $550,000 210,000 340,000 End of the Year $645,000 212,000 433,000 97,500 21,000 21,000 You discovered that they have not adjusted for estimated bad debt expenses of $9,700. 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 D E B Incorrect Correct: 1 2 3 ROA ROE Debt Ratio EPS 4 5 6 7 8 9 10