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Which of the following is the first step of the control process?

a. establish performance standards b. compare performance to standards c. take corrective action if necessary d. measure performance

Johnson Repair Service had net income for the year of $125,000. In addition, the balance sheet reports the following balances:

Jan. 1, 2016 Dec 31, 2016 Accounts Receivable $ 5,600 $ 14,200 Accounts Payable 12,000 9,500 Building 125,000 125,000 Cash 37,500 35,000 Office Furniture 25,000 50,000 Office Supplies 3,200 1,500 Notes Payable 60,000 75,000 Total Stockholders' Equity 124,300 141,200 Calculate the return on assets (ROA ) for Johnson Repair Service for the year ending December 31, 2016. What will be an ideal response