PQR Industries provides the following financial information:

Cash: $60,000

Accounts Receivable: $35,000

Supplies: $6,000

Accounts Payable: $8,000

Salaries Payable: $4,000

Long-term Debt: $30,000

Common Stock: $50,000

Retained Earnings (beginning of the year): $30,000

Service Revenue: $110,000

Wages Expense: $20,000

Supplies Expense: $5,000

Rent Expense: $7,000

Utilities Expense: $4,000

Interest Expense: $2,000

Income Tax Expense: $5,000

Requirements:

Calculate the net income for the year.

Determine the ending retained earnings.

Compute the quick ratio.

Calculate the total liabilities.

Determine the return on assets (ROA).