Financial Statement Analysis The financial statements for Nike, Inc., are available in Appendix E. The following additional information is available in thousands) a. 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 Fiscal Year 2015 2014 Working capital (in millions) $ 9,642 8,669 b. Current ratio 2.52 X 2.72 X C. Quick ratio 1.53 X 1.78 X d. Accounts receivable turnover 9.01 x 8.49 X e. Number of days' sales in receivables days days f. Inventory tumover 9 Number of days' sales in inventory days days h. Ratio of liabilities to stockholders' equity Asset turnover . 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 96 16 k. Return on common stockholders' equity 1. 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 9 Percentage relationship of net income to sales m. NIKE, Inc. Consolidated Statements of Income 2015 Year Ended May 31, 2014 2013 Arcep correct Income from continuing operations Fevenues Coot of Gross profit Demand creation expense Operating overhead expertise Total seling and administrative experien Interest expense income), net (Note 6, 7 and 8 Other Income) expense net (Note 17 Income before income taxes Income tax expenne Note 9 NET INCOME FROM CONTINUING OPERATIONS NET INCOME FROM DISCONTINUED OPERATIONS NET INCOME Earnings per common share from continuing operations: Basic Notes 1 and 12) Diluted (Notes 1 and 12) Enmings per common share from discontinued operations Basic (Notes 1 and 121 Diluted Notes 1 and 12) Dividende declared por common share The accompanying Motor to Consolidated Fototeron toga portofotetorent 30.601 $ 18.534 14.067 3.213 6,670 9.802 28 158) 4.205 232 3.273 27,700 15,353 12,400 3,031 5735 8,700 33 103 3,544 851 2,693 25,313 14.270 11.034 2,745 5,051 7.700 (16 3,256 BOS 2,451 21 2.472 $ 3.2735 2,693 $ $ $ 3.80 $ 3.70 $ 3.06 $ 2.07 $ 2.74 2.68 $ 0.02 0.02 0.81 0.03 $ NIKE, Inc. Consolidated Statements of Comprehensive The accompanying Me to the Cold Freunde Stuttgart of this statement NIKE, Inc. Consolidated Statements of Comprehensive Income Year Ended May 31 2015 2014 3.273 $ 2.6035 2013 2.472 38 (20) 1.188 m (32) (161) 4 is& ose Not income Other comprehensive income (os), not of tax Change in net foreign currency translation adjustment Change in net gains (08808) on cash flow hodges Change in net gaire fonco) on other Change in release of cumulative translation loss related to Umbro Total other comprehensive income fool.net of tax TOTAL COMPREHENSIVE INCOME M) Net axborot (per of millon Smilon and 12 million peciva, Med after beredepee) off)milion $18 millon and milion pectively Not of tax tonelt poolomilon Smilion and $1 milion pely. 10 Nat of tax borolt pont of million $min and $47milion rompectively The accompanyiro Moto to the Connolduod France Blutwento no arruga part of this statement, 1.161 (180) 2,504 $ 83 125 2507 $ 4.434 $ NIKE, Inc. Consolidated Balance Sheets May 31, 2015 2014 ) ASSETS Current mets Cash and equivalents (Note 6) Short-term investments (Note 6) Accounts receivable, not Note 1) Inventor Nota 1 and 2 Deferred Income Note) Prepaid expenses and other current assets Notes 6 and 17 Total current Property, plant and equipment, net (Noto 3) Identifiable introllo oset, net (Note 4) Goodwill (Note 4 Deferred income tax and other meets (Notou 6, Band 17) TOTAL ASSETS LIABILITIES AND SHAREHOLDERS' EQUITY Current abilities Current portion of long-term debit (Note 8) Notre payable (Note 7) Accounts payable (Note 7 Accrued abilities (Notes 6, 6 and 17) Income tax paynble (Noto 9) Total current abilities Long-term debt (Note 8 Deferred income taxes and other liabilities (Notes 6. 9. 13 and 17) Commitments and contingencies (Note 16) Redoomable preferred took (Note 10) 3.8525 2.072 3.358 4,337 380 1,068 15.976 3,011 281 131 2.201 21.600 $ 2.220 2.00 3,034 3.947 365 818 13,606 2.834 282 131 1,651 10.504 107 $ 74 2.131 3,951 71 6,334 1.079 1,480 7 167 1,900 2.491 432 5,027 1,199 1,544 281 131 2201 21.500 5 22 131 1,651 18,504 $ Sots, not Note 4) Goodwi Note 4) Deferred income taxes and other one Notes 6.9 and 17 TOTAL ASSETS LIABILITIES AND SHAREHOLDERS' EQUITY Current abilities: Current portion of long-term dobt (Note 8) Notre payable (Note7 Accounts payable (Noto 7 Accrued abilities Note 5, 6 and 17) Income base payable Note Total current libilities Long-term debt (Note 8) Deferred income taxes and other inbilities (Note 6, 9, 13 and 17) Commitments and contingencies Note 16 Redeemable preferred stock Note 10) Shareholders'ocuity Common stock at stated value (Note 11): Class A convertible - 178 and 178 che outstanding Class B - 670 and 602 shores outstanding Capital in excons of stated value Accumulated other comprehensive income (Noto 14) Retnined earnings Total shareholders' equity TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY The accompanying Motos to the Connoltatod Franc Stateners an integral part of the statomort 107 $ 74 2.131 3,061 71 6334 1,079 1.480 7 167 1,800 2.491 432 1.100 1,644 3 5.773 1.246 4,685 12,707 21,600 $ 3 5,865 85 4,871 10824 18,694 $