1. Long Beach Golf Supply Company recently reported revenue of $12.62 billion. The firm's profit margin is 9.2%. The firm has 158 million shares at the end of the year, but the weighted average number of shares outstanding during the year was 156.8 million. Compute the earnings per share (EPS) for the firm.
2. Simpson Products Inc. recently reported earnings before interest and taxes, EBIT, of $359 million; cost of goods sold of $98 million; selling, general & administrative expense of $30 million; and depreciation expense of $33 million. Simpson also reported $85 million of inventory on its recent balance sheet. What is the inventory turnover ratio for Simpson?