1. Sticky Fingers Inc. produces scotch tape and masking tape. Last year's annual report has been compiled, and you are in charge of business analysis for the year. The company had a goal for inventory turnover of 6, cost of goods sold of $400,000, beginning inventory of $50,000, and ending inventory of $70,000. What was the actual inventory turnover, and at what percent did the firm achieve its goal?
2. Tinsley Inc. is an industry-leading cardboard manufacturer. You have been asked to determine a market value for the firm's equity. The firm has 100,000 shares outstanding, earnings per share of $2.50 last year, and a stock price of $25. What is the market value?