For the company Nike Inc. Assume that the chief financial officer (CFO) has asked you to analyze the use of company assets and make recommendations for revenue generation and increasing profitability. Take a look at the Form 10-k. Review and study the assets as reported for the past 3 years. Using the correct formulas and a separate tab for each analysis, calculate the following ratios using Excel.

Receivables turnover Average collection period Inventory turnover Average days in inventory Asset turnover

	12 months ended	May 31, 2019		May 31, 2018		May 31, 2017		May 31, 2016		May 31, 2015		May 31, 2014
	Revenues	39,117		36,397		34,350		32,376		30,601		27,799
	Cost of sales	(21,643)		(20,441)		(19,038)		(17,405)		(16,534)		(15,353)
	Gross profit	17,474		15,956		15,312		14,971		14,067		12,446
	Demand creation expense	(3,753)		(3,577)		(3,341)		(3,278)		(3,213)		(3,031)
	Operating overhead expense	(8,949)		(7,934)		(7,222)		(7,191)		(6,679)		(5,735)
	Selling and administrative expense	(12,702)		(11,511)		(10,563)		(10,469)		(9,892)		(8,766)
	Operating income	4,772		4,445		4,749		4,502		4,175		3,680
	Interest income	82		70		27		12		6		5
	Interest expense	(131)		(124)		(86)		(31)		(34)		(38)
	Interest income (expense), net	(49)		(54)		(59)		(19)		(28)		(33)
	Other income (expense), net	78		(66)		196		140		58		(103)
	Income before income taxes	4,801		4,325		4,886		4,623		4,205		3,544
	Income tax expense	(772)		(2,392)		(646)		(863)		(932)		(851)
	Net income	4,029		1,933		4,240		3,760