Return on Assets=Net Income/Average Total Assets For the class example, calculate the Return on Assets and analyze the results. What is your decision? Assets: $33,400 Liabilities:500 Equity: 32,900 H 2 BALANCE SHEET-CLASS EXAMPLE Assets: Cash $10,900 + Accounts Receivable $0 + Supplies $2,500 + $20,000 = $33,400 Liabilities: Accounts Payable $500 Equity: $32,900 (From Statement of Owner's Equity) $33,400=$500 + $32,900