RTY Industries presents the following financial information:

Cash: $85,000

Accounts Receivable: $45,000

Prepaid Expenses: $6,000

Supplies: $8,000

Accounts Payable: $11,000

Salaries Payable: $5,000

Long-term Debt: $40,000

Common Stock: $65,000

Retained Earnings (beginning of the year): $28,000

Service Revenue: $125,000

Wages Expense: $30,000

Supplies Expense: $7,000

Rent Expense: $8,000

Utilities Expense: $4,000

Interest Expense: $3,000

Income Tax Expense: $9,000

Requirements:

Compute the net income for the year.

Determine the ending retained earnings.

Calculate the quick ratio.

Compute the total liabilities and equity.

Calculate the return on assets (ROA).