Alec Appliance Service had net income for the year of $18,200. In addition, the balance sheet reports the following balances:

Calculate the return on assets (ROA) for Alec Appliance Service for the year ending December 31, 2016.

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Notes Payable Cash Office Furniture Building Accounts Payable Total Stockholders' Equity Accounts Receivable Equipment Office Supplies Jan. 1, 2016 34,000 39,000 20,000 155,000 9,500 198,300 1,600 22,000 4,200 Dec. 31, 2016 54,000 20,200 38,000 155,000 10,000 214,200 18,400 46,000 600