Analysis of ROA Components The comparative income statement and balance sheet of Cowan Kitchen Counters, Inc. are shown. Cowan Kitchen Counters, Inc. Comparative Income Statement For Years Ended December 31, 20-2 and 20-1 20-2 20-1 Net Sales (all on account) Cost of goods sold $2,584,000 1,868,200 $715,800 $2,163,000 1,616,800 Gross profit $546,200 315,200 221,800 Operating expenses Other expense (interest) 24,200 24,200 Income tax expense 106,300 176,800 $199,600 Net income $193,900 Cowan Kitchen Counters, Inc. Comparative Balance Sheet December 31, 20-2 and 20-1 Cash 20-2 $255,400 250,000 20-1 $243,200 250,000 Government notes 903,500 Accounts receivable (net) Merchandise inventory Supplies and prepayments 983,600 797,500 913,600 47,500 Land 143,200 108,200 330,000 108,200 Building (net) Office equipment (net) Total assets 17,700 390,600 15,000 $2,765,600 $2,991,600 Current liabilities (accounts payable) Bonds payable Total liabilities $703,000 220,000 $923,000 $532,000 240,000 $772,000 Common stock ($10 par, 180,000 shares) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $1,800,000 268,600 $2,068,600 $2,991,600 $1,800,000 193,600 $1,993,600 $2,765,600 Compute ROA for 20-2 using its two basic components (round all calculations to two decimal places). x %