Alec Appliance Service had net income for the year of $47,600. In addition, the balance sheet reports the following balances: (Click the icon to view the balances.) Calculate the return on assets (ROA) for Alec Appliance Service the year ending December 31, 2018. Net Income 1 Average total assets ROA 6 Data Table 1 % Notes Payable Cash Office Furniture Building Accounts Payable Total Stockholders' Equity Accounts Recolvable Equipment Office Supplies Jan 1, 2018 Dec 31, 2018 $ 46,000 $ 48,000 35,000 39,600 20,000 36,000 175,000 175,000 12,500 12,000 193,900 247,600 2,000 17.400 16,000 38,000 4,400 1,600 Print Done