Financial Statements Assignment | Top Universities
6. value 1.70 points 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:
End of the Year Beginning of the 550.000 Year Total Assets 611,000 items Total Equity Net Income for the Year 340 000 406 O001 94.600 20,000 Common Shares Outstanding 20.000 You discovered that they have not adjusted for estimated bad debt expenses of $8,600. For each of the following ratios, calculate: The ratio that would have resulted had the error not been discovered (i.e. the incorrect ratio) 2. The correct ratio. A D E 1 Incorrect: Correct: ROA ROB Debt Ratic EPS 6 7 8 9 10. Get Accounting Homework Help Today.