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NIKE, Inc. Consolidated Statements of Income NIKE, Inc. Consolidated Statements of Comprehensive Income Allye Ina Camanlidatad Dalanan Chanta NIKE, Inc. Consolidated Statements of Cash Flows NIKE, Inc. Consolidated Statements of Shareholders' Equity FSA 6: times interest earned and the PE ratio Ratio: times interest earned You will use the NIKE financial statements in appendix C for this ratio. They are also located under the FSA module under the content tab in Cobra. The formula for Times interest earned = (income before taxes + interest expense) interest expense 5/31/18 ratio 5/31/17 ratio This ratio computes the number of times interest payments could be paid out of current period earnings. Because interest payments reduce income tax expense, the ratio is computed using income before tax. High values of this ratio are considered favorable. In contrast, low values are considered unfavorable. Values of this ratio less than 1.0 suggest that the firm is unable to cover interest payments from current period income before tax. Calculate both ratios and comment on NIKEs profitability between the two years Ratio: price-earnings ratio The formula for price-earnings ratio is: Market price per share of common stock Earnings per share on common stock This ratio measures the company's future earnings prospects. The market price per share was 72.12 for 5/31/18 and 53.06 for 5/31/17. Use the basic earnings per share from the consolidated statements of income for the denominator. Round the ratio to the nearest tenth. 5/31/18 ratio 5/31/17 ratio Calculate both ratios and comment on NIKEs profitability between the two years