Financial Statement Analysis

The financial statements for Nike, Inc., are available in Appendix E. The following additional information is available (in thousands):

Accounts receivable at May 31, 2013: $3,117 Inventories at May 31, 2013: 3,484 Total assets at May 31, 2013: 17,545 Stockholders equity at May 31, 2013: 11,081

1. Determine the following measures for the fiscal years ended May 31, 2015, and May 31, 2014. 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 2015		Fiscal Year 2014
a.	Working capital (in millions)	$		$
b.	Current ratio
c.	Quick ratio
d.	Accounts receivable turnover
e.	Number of days' sales in receivables		days		days
f.	Inventory turnover
g.	Number of days' sales in inventory		days		days
h.	Ratio of liabilities to stockholders' equity
i.	Asset turnover
j.	Return on total assets, assuming interest expense is $28 million for the year ending May 31, 2015, and $24 million for the year ending May 31, 2014		%		%
k.	Return on common stockholders' equity		%		%
l.	Price-earnings ratio, assuming that the market price was $101.67 per share on May 29, 2015, and $76.91 per share on May 30, 2014
m.	Percentage relationship of net income to sales		%		%

NIKE, Inc. Consolidated Statements of Income Yoar Ended May 31 2014 2013 noome from oorbnuing operabons 30,801 S 27,799 $ 25,313 14 1,034 2,745 Coet of saes Gros8 proft Demend creation expenee 16,534 14,067 3,213 6,879 9802 28 15,363 12,446 5,735 8, 166 ating overhend 5,05 nterest expense income), net (Nates 6,7 and 8 103 3,544 ncome before income tekee 4,206 3,256 ERATIONS NET INCOME FROM NET INCOME FROM DISCONTINUED OPERATIONS 2,693 21 2,693 S NET INCOME 3,273 S Eamings per common ehere from continuing operarions 3.80 3.70 3.05 2.97 2.74 Basic (Notes 1 and 12) Diuted (Notcs 1 and 12 Eamings per common share from disoontinued operations: aasin poles 1 and 12) Diuted (Notes 1 and 12 0.02 081 decered per common share 1.06 tectsare aningpat of this statement NIKE, Inc. Consolidated Statements of Comprehensive Income Yoar Ended May 31 2014 2013 2.63 S 2472 Net ncome Other oomprehensive income (ossi, net of tax 3273 2883 S Change in net foreign currency trerelation adjuetment Changc in nct gaina losaca) on cash flow hodgcsP) Change in nel gaine fosees) on other 1200 1,188 (7 in nelease ot cumudattve tranelation losa related to Umiono 180 2,504 Tatal ather TOTAL COMPREHENSIVE INCOME net of ta May 31 2014 ASSETS Current assets: 3862 $ Cash and equivelents (Note 6) Short-term investments Note 6 Accounts receiveble, net Note 1) Inventories (Notes 1 and 2) Delerred income taxes (Note 9) 3,434 3,947 and other current assets 6and 1 15,976 13,696 current assets Property, pant and equipment, net (Note 3 dentfieble intangible assets, net (Note 4) Goodwil Note 4) Deferred income taxes and other essets 9 and 1 18,594 TOTAL ASSETS LIABILITIES AND SHAREHOLDERS' EQUITY Current lablitles 21,600S Current portion of long-term debt (Note 8) Notes peryable (Note 7 Accounts payable (Note 7 Accrued lebilities (Notes 5,6 and 17 Income taxes paynble Total current biks Long-term dobt Note 8) Deferred income taxes and other febiities (Notes 6,9,13 and 17 Commitments and contingenciee (Note 16 Redeemeble preferred stock(Note 10) Shareholdare' equity Common stock at steted vele Note 11 Class A convertible 178 end 178 sharee outstanding Coss B-679 and 692 shares outstanding Capital in excees of stated value Accumuhted other oomprehersive income (Note 14) 107 1,930 2,491 1,199 1,544 1,480 6773 4,685 12.707 21,600 Total shareholders' equity 10824 18,594 TAL LIABILITIES AND SHAREHOLDERS' EQUITY The accompany ng Notes tote Consoloated Franca Statements "arme part of Mr #termert