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North/South Airlines generated the following information from its financial statements:
(1) P/E ratio equals 15.0,(2) common stock market price per share is $30,(3) fixed assets turnover equals 8.0,(4) current ratio equals 5.0,(5) current liabilities equal $300,000,(6) net profit margin equals 4 percent, and(7) 60,000 shares of common stock are outstanding.
What are North/ South's (a) return on assets (ROA) and (b) total assets turnover?
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