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Total assets for 2018 beginning is calculated as follows:

Total Assets for 2018 Beginning = Cash + Office Furniture + Building + Accounts Receivable + Equipment + Office Supplies

= $34,000 + $23,00 + $160,000 + $2,200 + $24,000 + $4,800

= $248,000

Total assets for 2018 end is calculated as follows:

Total Assets for 2018 Beginning = Cash + Office Furniture + Building + Accounts Receivable + Equipment + Office Supplies

= $134,000 + $44,00 + $160,000 + $19,800 + $42,000 + $2,000

= $402,000

Return on assets is calculated as follows:

$\begin{array}{rcl}ReturnonAssets& =& \frac{NetIncome}{{\displaystyle \frac{BeginningTotalAssets+EndingTotalAssets}{2}}}\\ & =& \frac{\$58,500}{{\displaystyle \frac{\$248,000+\$402,000}{2}}}\\ & =& 18\%\end{array}$

Thus, Return on assets equals 18%.