1. What percentage of total current assets is cash during 2015 and 2014? Has this percentage increased, decreased, or remained the same during this period?

2. How much depreciation expense does Nike report on its income statement?

3. What inventory costing method or methods does Nike use to determine the inventory amount reported on its balance sheet?

NIKE, Inc. Consolidated Balance Sheets May 31, 2015 2014 (In millions) ASSETS Current assets S S 3,852 2.072 3,358 2.220 2.922 3,434 3.947 4,337 389 355 818 1,968 15,976 3,011 281 13,696 2,834 282 131 131 1,651 2.201 21,600 $ $ 18,594 $ 107 S 7 74 167 Cash and equivalents (Note 6) Short-term investments (Note 6) Accounts receivable, net (Note 1) Inventories (Notes 1 and 2) Deferred income taxes (Note 9) Prepaid expenses and other current assets (Notes 6 and 17) Total current assets Property, plant and equipment, net (Note 3) Identifiable intangible assets, net (Note 4) Goodwill (Note 4) Deferred income taxes and other assets (Notes 6, 9 and 17) TOTAL ASSETS LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Current portion of long-term debt (Note 8) Notes payable (Note 7) Accounts payable (Note 7) Accrued liabilities (Notes 5, 6 and 17) Income taxes payable (Note 9) Total current liabilities Long-term debt (Note 8) Deferred income taxes and other liabilities (Notes 6, 9, 13 and 17) Commitments and contingencies (Note 16) Redeemable preferred stock (Note 10) Shareholders' equity: Common stock at stated value (Note 11): Class A convertible 178 and 178 shares outstanding Class B - 679 and 692 shares outstanding Capital in excess of stated value Accumulated other comprehensive income (Note 14) Retained earnings Total shareholders' equity TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 2.131 1.930 3.951 2,491 71 432 6,334 1,079 1,480 5,027 1,199 1.544 3 3 5.865 85 6,773 1,246 4,685 12,707 4.871 10.824 18,594 $ 21,600 $ NIKE, Inc. Consolidated Statements of Income Year Ended May 31, 2015 2014 2013 S S S 30,601 16,534 25,313 14.279 14,067 11,034 2,745 3,213 (In millions, except per share data) Income from continuing operations: Revenues Cost of sales Gross profit Demand creation expense Operating overhead expense Total selling and administrative expense Interest expense (income), net (Notes 6, 7 and 8) Other (income) expense, net (Note 17) Income before income taxes Income tax expense (Note 9) NET INCOME FROM CONTINUING OPERATIONS NET INCOME FROM DISCONTINUED OPERATIONS NET INCOME 27,799 15,353 12,446 3,031 5,735 8,766 33 103 5,051 6,679 9,892 7,796 28 (58) 4,205 (3) (15) ( 3,544 851 2,693 3,256 805 932 3,273 2,451 21 $ 3,273 $ 2,693 $ 2,472 Earnings per common share from continuing operations: Basic (Notes 1 and 12) ) Diluted (Notes 1 and 12) S $ S 2.74 3.80 3.70 3.05 2.97 S $ S 2.68 Earnings per common share from discontinued operations: Basic (Notes 1 and 12) Diluted (Notes 1 and 12) $ $ 0.02 S S S S 0.02 Dividends declared per common share S 1.08 S 0.93 S 0.81