Alec Appliance Service had net income for the year of $35,200. In addition, the balance sheet reports the following balances: (Click the icon to view the balances.) Calculate the return on assets for Alec Appliance Service for the year ending December 31, 2024. Data table + + = ROA % Jan 1, 2024 Dec 31, 2024 Notes Payable $ 44,000 $ 50,000 Cash 31,000 114,400 Office Furniture 27,000 46,000 Building 165,000 165,000 Accounts Payable 12,000 10,000 Total Owner's Equity 195,600 328,400 Accounts Receivable 3,200 16,800 Equipment 21,000 44,000 Office Supplies 4,400 2,200 -