Puerto Rican Rice and Beans (Habichuelas Guisadas)

Name: Puerto Rican Rice and Beans (Habichuelas Guisadas)
Prep time: 10 min
Cook time: 30 min
Total time: 40 min
Cuisine: Latin American
Ingredients: 1 tablespoon oil; 2 heaping tablespoons sofrito; 8 ounces tomato sauce; 2 cans (15-16 ounces) kidney, red or pink beans, drained and rinsed; 1 1/2 cups (12 ounces) water; 1 packet Sazón with Coriander and Annatto (Culantro and Achiote); 1 packet ham flavor (I use Goya Jamón) (optional); 1 teaspoon adobo (I use Goya); 1/2 teaspoon garlic powder; 1/4 teaspoon dried oregano; Ground black pepper, to taste; 2 tablespoons Manzanilla or Spanish pimento-stuffed olives; 1/2 pound potatoes, peeled and diced into large chunks; Cooked white rice, for serving