Excerpts from Form 10 K of Nike, Inc Calculate the ratios given in the following table for Nike for two fiscal years 2008 and 2007 Metric Formula 2008(In Millons) 2007(In Millions) Current ratio Current Assets Current Liabilities 2 66 3 13 Quick ratio (Current Assets Inventories) Current Liabilities 1 93 2 30 Inventory turnover Sales Inventory 4 49 4 37 Days sales outstanding Receivables Average Sales per Day 54 77 55 77 Fixed asset turnover Sales Net Fixed Assets (Plant Equipment Cost Depriciation) 4 540 4 511 Total Assets Turnover Sales Total Assets 1 50 1 53 Debt ratio Total Debt Total Assets 0 08 0 08 Operating margin Operating Income Revenue 13 07 13 06 Profit margin Net Income Revenue 10 11 9 14 Return on assets Net Income Total Assets 15 14 13 95 Return on equity Net Income Common Equity 24 07 21 23 Evaluate Nikes financial health based on the trend of those ratios from 2007 to 2008, and identify any corrective actions that may improve it if needed What are the major points made in the (audit) Report of Independent Registered Public Accounting Firm of PRICEWATERHOUSECOOPERS LLP

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Excerpts from Form 10-K of Nike, Inc Calculate the ratios given in the following table for Nike for two fiscal years 2008 and 2007. Metric

Excerpts from Form 10-K of Nike, Inc

Calculate the ratios given in the following table for Nike for two fiscal years 2008 and 2007.

Metric	Formula	2008(In Millons)	2007(In Millions)
Current ratio	Current Assets/ Current Liabilities	2.66	3.13
Quick ratio	(Current Assets - Inventories)/ Current Liabilities	1.93	2.30
Inventory turnover	Sales/Inventory	4.49	4.37
Days sales outstanding	Receivables/Average Sales per Day	54.77	55.77
Fixed asset turnover	Sales/Net Fixed Assets (Plant & Equipment Cost - Depriciation)	4.540	4.511
Total Assets Turnover	Sales/Total Assets	1.50	1.53
Debt ratio	Total Debt/Total Assets	0.08	0.08
Operating margin	Operating Income/Revenue	13.07%	13.06%
Profit margin	Net Income/Revenue	10.11%	9.14%
Return on assets	Net Income/Total Assets	15.14%	13.95%
Return on equity	Net Income/Common Equity	24.07%	21.23%

Evaluate Nikes financial health based on the trend of those ratios from 2007 to 2008, and identify any corrective actions that may improve it if needed.

What are the major points made in the (audit) Report of Independent Registered Public Accounting Firm of PRICEWATERHOUSECOOPERS LLP?