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
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		%		%
k.	Return on common stockholders' equity		%		%
l.	Price-earnings ratio, assuming that the market price was $54.90 per share on May 29, 2016, and $52.81 per share on May 30, 2015.
m.	Percentage relationship of net income to sales		%		%

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 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