Question $6,$ E$1-39($similar to$)$

HW Score: $52\mathrm{.}5\%,21$ of $40$ points

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Alec Appliance Service had net income for the year of $$24,000.$ 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 $31,2018.$

Data table

$\backslash$table$[[,$Jan $1,2018,$Dec $31,2018],[$Notes Payable,$42,000$$$,46,000],[$Cash$,33,000,305,200],[$Office Furniture,$26,000,54,000],[$Building$,140,000,140,000],[$Accounts Payable,$9,500,12,500],[$Total Stockholders' Equity,$179,100,510,900],[$Accounts Receivable,$2,000,19,400],[$Equipment$,25,000,48,000],[$Office Suppties,$4,600,2,800]]$

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