Financial Statement Analysis

The financial statements for Nike, Inc., are presented in Appendix D . Use the following additional information (in thousands):

Accounts receivable at May 31, 2014: $3,117 Inventories at May 31, 2014: 3,947 Total assets at May 31, 2014: 18,594 Stockholders equity at May 31, 2014: 12,000

1. Determine the following measures for the fiscal years ended May 31, 2016, and May 31, 2015. Do not round interim calculations. Round the working capital amount in part (a) to the nearest dollar. Round all other final answers to one decimal place. When required, use the rounded final answers in subsequent computations.

Fiscal Year 2016

Fiscal Year 2015

e.

Number of days' sales in receivables

days

days

g.	Number of days' sales in inventory		days		days
h.
i.
j.	Return on total assets		%		%

	NIKE, INC.
	Consolidated Statements of Income
		Year Ended May 31,
	(In millions, except per share data)	2016	2015	2014
	Revenues	$ 32,376	$ 30,601	$ 27,799
	Cost of sales	17,405	16,534	15,353
	Gross profit	14,971	14,067	12,446
	Demand creation expense	3,278	3,213	3,031
	Operating overhead expense	7,191	6,679	5,735
	Total selling and administrative expense	10,469	9,892	8,766
	Income from Operations	4,502	4,175	3,680
	Interest expense (income), net	19	28	33
	Other (income) expense, net	(140)	(58)	103
	Income before income taxes	4,623	4,205	3,544
	Income tax expense	863	932	851
	NET INCOME	$ 3,760	$ 3,273	$ 2,693
	Earnings per common share:
	Basic	$ 2.21	$ 1.90	$ 1.52
	Diluted	$ 2.16	$ 1.85	$ 1.49
	Dividends declared per common share	$ 0.62	$ 0.54	$ 0.47

Return on total assets

%