b) Included on the statement of owner's equity is the net income and which accounts? c) What does the balance sheet tell an investor? d) What are the three sections of the statement of cash flows? L06. How do you use financial statements to evaluate business performance? a) What is the formula for return on assets? Net income is $10,000 and total assets are $150,000 for the current year. Total assets previous year was $100,000. What is the ROA? for the b)