The financial statements to correct with regard to the two missing $400 HD televisions are the Income Statement and the Balance Sheet.
- The accounts affected are Ending Inventory and Cost of Goods Sold on the expenses side and the Retained Earnings account on the revenue side.
- The costs of the two missing HD televisions will reduce the Ending Inventory by $800 ($400 x 2), thereby increasing the Cost of Goods Sold for the period by $800.
- The necessary adjustments will also reduce the Retained Earnings by $800.
Thus, finding that two $400 HD televisions were missing would definitely affect the two financial statements.
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