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Compute and Interpret the Z-score Information from the balance sheet, income statement, and statement of cash flows for Nike follows. Refer to these financial
Compute and Interpret the Z-score Information from the balance sheet, income statement, and statement of cash flows for Nike follows. Refer to these financial statements to answer the requirements. Note: Complete the entire question in Excel and format each answer to two decimal places. Then enter the answers into the provided spaces below with two decimal places. NIKE INC. Consolidated Income Statements May 31, May 31, For Year Ended ($ millions) Revenues 2019 2018 $40,917 $38,197 Cost of sales 21,643 20,441 Gross profit 19,274 17,756 Demand creation expense 5,553 5,377 Operating overhead expense 10,749 9,734 Total selling and administrative expense 16,302 11,511 Interest expense (income), net 49 54 Other (income) expense, net (78) 66 Income before income taxes 3,001 6,125 Income tax expense Net income 772 2,392 $2,229 $3,733 NIKE INC. Consolidated Balance Sheets $ millions (except share price) 2019 May 31, May 31, 2018 Current assets Cash and equivalents $4,466 $4,249 Short-term investments 197 996 Accounts receivable, net 4,272 3,498 Inventories 7,422 7,061 Prepaid expenses and other current assets 1,968 1,130 Total current assets 18,325 16,934
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