Below are the financial statements for a manufacturer of athletic equipment.

Balance Sheet (in millions)													2011		2010
Assets:
Current:
		Cash and Equivalents											$ 1,955		$ 3,079
		Short-Term Investments											$ 2,583		$ 2,067
		Accounts Receivable											$ 3,212		$ 2,724
				less: Allowance for Doubtful Accounts									$ (74)		$ (74)
		Inventories											$ 2,715		$ 2,041
		Deferred Income Taxes											$ 312		$ 249
		Prepaid Expenses and other Current Assets											$ 594		$ 873
Total Current Assets													$ 11,297		$ 10,959
Non-Current Assets
		Property, Plant and Equipment
				At Cost									$ 4,906		$ 4,390
				Less: Accumulated Depreciation									$ (2,791)		$ (2,458)
		Net Property, Plant and Equipment											$ 2,115		$ 1,932
		Identifiable Intangible Assets											$ 487		$ 467
		Goodwill											$ 205		$ 188
		Deferred Income Taxes and other Assets											$ 894		$ 873
Total Non-current Assets													$ 3,701		$ 3,460
Total Assets													$ 14,998		$ 14,419
													2011		2010
Liabilities and Shareholder's Equity
Current Liabilities
		Current portion of Long-Term Debt											$ 200		$ 7
		Notes Payable											$ 187		$ 139
		Accounts Payable											$ 1,469		$ 1,255
		Accrued Liabilities											$ 1,985		$ 1,904
		Income Taxes Payable											$ 117		$ 59
Total Current Liabilities													$ 3,958		$ 3,364
Non-Current Liabilities
		Long-Term Debt											$ 276		$ 446
		Deferred Income Taxes and other Liabilities											$ 921		$ 855
Total Non-Current Liabilities													$ 1,197		$ 1,301
Total Liabilities													$ 5,155		$ 4,665
Shareholder's Equity:
		Redeemable Preferred Stock											*		*
		Common Stock at Stated Value
				Class A convertible									*		*
				Class B									$ 3		$ 3
		Capital in Excess of Stated Value											$ 3,944		$ 3,441
		Retained Earnings											$ 5,801		$ 6,095
		Accumulated other Comprehensive Income											$ 95		$ 215
Total Shareholders' Equity													$ 9,843		$ 9,754
Total Liabilities and Shareholders' Equity													$ 14,998		$ 14,419
* denotes less than .5 million
Income Statement (in millions)
									2011			2010
Revenues									$ 20,862			$ 19,014
Cost of Sales									$ 11,354			$ 10,214
Gross Margin									$ 9,508			$ 8,800
Demand creation Expense									$ 2,448			$ 2,356
Operating Overhead Expense									$ 4,245			$ 3,970
Total Selling and Administrative Expense									$ 6,693			$ 6,326
Income from Operations									$ 2,815			$ 2,474
Other Expenses (Income)
	Interest Expense, net								$ 4			$ 6
	Other Income, net								$ (33)			$ (49)
Total Other Expenses (Income)									$ (29)			$ (43)
Income before Taxes									$ 2,844			$ 2,517
Income Taxes									$ 711			$ 610
Net Income									$ 2,133			$ 1,907

.

Required: Using your financial statement analysis expertise, tell me five things of interest and/or concern regarding this company