Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need any amount of answers willing to be provided, but the first five (A - E) will also work! Appendix C states: Thank you

I need any amount of answers willing to be provided, but the first five (A - E) will also work!

image text in transcribed

Appendix C states:

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

Thank you so much!

Print 1. NIKE,INC Financial Statement Analysis The financial statements for Nike, Inc., are presented in Appendix C. Use the following additional information (in millions): Accounts receivable at May 31, 2016 $3,241 Inventories at May 31, 2016 4,838 21,379 Total assets at May 31, 2016 Stockholders' equity at May 31, 2016 12,258 1. Determine the following measures for the fiscal years ended May 31, 2018, and May 31, 2017. Assume 365 days a year. 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. May 31, 2018 May 31, 2017 a $ $ b. c. d. e. days days f. g Working capital (in millions) Current ratio Quick ratio Accounts receivable turnover Number of days' sales in receivables Inventory turnover Number of days' sales in inventory Ratio of liabilities to stockholders' equity Asset turnover Return on total assets Return on stockholders' equity Price-earnings ratio, assuming that the market price was $72.12 per share on May 29, 2018, and $53.06 per share on May 30, 2017. days days h. i. 1 % % k. % I. 2. The working capital between 2017 and 2018. The current and quick ratios both during 2018. The accounts receivable turnover and number of days' sales in receivables slightly. The margin of protection to creditors . The return on total assets during 2018. The return on stockholders' equity NIKE, Inc. Consolidated Statements of Income 2018 36.397 20.441 15.956 3.577 7.934 (in millions, except por share data) Revenues Cost of sales Gross profit Domand creation expense Operating overhead expense Total selling and administrative expense Interest expense (income), net Other expense (income). net Income before income taxes Income tax expense NET INCOME Year Ended May 31, 2017 $ 34,350 19,038 15,312 3.341 7.222 10.563 59 (196) 4.886 646 $ 4.240 11.511 54 66 4 325 2.392 $ 1.933 $ Earnings per common share: Basic Diluted 1.19 $ 2.56 $ 2.51 $ 1.17 $ 0.78 $ 0.70 5 Dividends declared per common share The accompanying Notos to the Consolidated Financial Statements are an integral part of this statement. NIKE, Inc. Consolidated Statements of Comprehensive Income 2018 Year Ended May 31, 2017 1,933 $ 4.240 $ (In milions) Net income Other comprehensive income (loss). net of tax Change in net foreign currency translation adjustment Change in net gains (losses) on cash fow hedges Change in net gains (losses) on other Total other comprehensive income (loss), net of tax TOTAL COMPREHENSIVE INCOME The accompanying Notos to the Consolidated Financial Statements are an integral part of this statement (6) 76 34 16 (515) (32) (531) 3,709 104 2,037 $ $ NIKE, Inc. Consolidated Balance Sheets May 31, 2018 $ 4249 996 3.498 5.261 1.130 15.134 4454 285 154 2.509 22,536 $ (in Millions) ASSETS Current assets: Cash and equivalents Short-term investments Accounts receivable, net Inventories Prepaid expenses and other current assets Total current assets Property, plant and equipment, net Identifiable intangible assets, net Goodwill Deferred income taxes and other assets TOTAL ASSETS LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Current portion of long-term debe Notes payable Accounts payable Accrued abilities Income taxes payable Total current liabilities Long-term debet Deferred income taxes and other liabilities Commitments and contingencies (Note 15) Redeemable preferred stock Shareholders' equity Common stock at stated value: Class A convertible - 329 and 329 shares outstanding Class B - 1,272 and 1.314 shares outstanding Capital in excess of stated value Accumulated other comprehensive loss Retained earnings Total shareholders' equity TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY The accompanying Notes to the Consolidated Financial Statements are an integral part of this statement. 336 2.279 3.269 150 6.040 3.468 3.216 3 6,384 (92) 3.517 9.812 22.536 $ NIKE, Inc. Consolidated Statements of Cash Flows Year Ended May 31, 2017 2018 1.933 $ 4.240 $ 747 647 706 (273) 215 10 218 27 (99) (426) (231) 187 (255) 35 1,515 4955 (120) (158) 3.846 (4.783) 3,613 2.496 (5,928) 3,623 2423 (1.028) 3 (In milions) Cash provided by operations: Net income Adjustments to reconcile net income to net cash provided by operations: Depreciation Deferred income taxes Stock-based compensation Amortization and other Net foreign currency adjustments Changes in certain working capital components and other assets and liabilities: Decrease increase) in accounts receivable (Increase in inventories Decrease increase) in prepaid expenses and other current and non-current assets Increase (decrease in accounts payable, accrued liabilities and other current and non-current liabilities Cash provided by operations Cash provided (used) by investing activities: Purchases of short-term investments Maturities of short-term investments Sales of short-term investments Investments in reverse repurchase agreements Additions to property, plant and equipment Disposals of property, plant and equipment Other investing activities Cash provided (used) by investing activities Cash used by financing activities: Net proceeds from long-term debt issuance Long-term debt payments, including current portion Increase (decrease in notes payable Payments on capital foase and other financing obligations Proceeds from exercise of stock options and other stock issuances Repurchase of common stock Dividends - common and preferred Tax payments for net share settlement of equity awards Cash used by financing activities Effect of exchange rate changes on cash and equivalents Net increase (decrease) in cash and equivalents Cash and equivalents, boginning of year CASH AND EQUIVALENTS. END OF YEAR Supplemental disclosure of cash flow Information: Cash paid during the year for Interest, net of capitalized interest Income taxes Non cash additions to property, plant and equipment Dividends declared and not paid The accompanying Notes to the Consolidated Financial Statements are an integral part of this statement (1.105) 13 (34) (1,008) (25) 276 (6) 13 (23) 733 (4.254) (1.243) (55) (4.835) 45 441 3.808 4,249 1.482 (44) 327 (17) 489 (3.223) (1,133) (29) (2.148) (20) 670 3.138 3,808 $ $ $ 125 S 529 294 98 703 200 300 320 NIKE, Inc. Consolidated Statements of Shareholders' Equity Accumulated Other Comprehensive Income 1.246 Retained Earnings $ 7.293 (148) (3.090) (1.053) 3.760 (928) 318 $ $ 6,899 (3.060) Common Stock Capital in Class A Class 8 Excess of Stated (In millions excopt per share data) Shares Amount Shares Amount Value Balance at May 31, 2015 355 $ 1,357 $ 3 $ 4,1655 Stock options exercised 22 680 Conversion to Class B Common Stock (2) 2 Repurchase of Class 8 Common Stock (55) Dividends on common stock (50.62 per share) and preferred stock (50.10 per Share) Issuance of shares to employees, net of shares withheld for employee taxes 3 105 Stock-based compensation 236 Net income Other comprehensive income (loss) Balance at May 31, 2016 353 $ 1.329 3 $ 5,038 $ Stock options exercised 17 525 Conversion to Class 8 Common Stock (24) 24 Repurchase of Class 8 Common Stock (60) (189) Dividends on common stock (S0.70 per share and preferred stock (50.10 per sharo) Issuance of shares to employees, net of shares withheld for employee taxes 121 Stock-based compensation 215 Net income Other comprehensive income (loss) Balance at May 31, 2017 329 $ - 1,314 $ 3 $ 5,710 Stock options exercised 24 800 Conversion to Class B Common Stock Repurchase of Class B Common Stock (70) (254) Dividends on common stock (80.78 per share) and preferred stock (50.10 per sharo) Issuance of shares to employees, net of shares with held for employee taxes 110 Stock-based compensation 218 Net income Other comprehensive income (loss) Reclassifications to retained earnings in accordance with ASU 2018-02 Balance at May 31, 2018 329 $ 1.272 $ 3 5 6,384 The accompanying Notes to the Consolidated Financial Statements are an integral part of this statement (1.159) (13) 4240 (531) (213) $ $ 6,907 (4,013) (1.265) (28) 1.933 104 17 (17) $ (92) $ 3,517

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Financial Accounting (Chapters 1-17)

Authors: John Wild

25th Edition

1260780147, 9781260780147

More Books

Students also viewed these Accounting questions

Question

How can fraud be detected by analyzing financial statements?

Answered: 1 week ago

Question

Cite common obstacles to reaching your goals.

Answered: 1 week ago

Question

Recognize and describe the steps in the recruiting process

Answered: 1 week ago

Question

Appreciate the contribution made by a positions incumbent

Answered: 1 week ago

Question

Know how to conduct a position analysis

Answered: 1 week ago