If you need any more statements, I'll get it for you thank you!

Required: 1. How much inventory does Under Armour hold as of December 31, 2019? 2. Estimate the amount of merchandise that Under Armour purchased during the year ended December 31, 2019 (Hint: Use the cost of goods sold equation). 3. What method does Under Armour use to determine the cost of its inventory? 4. Compute the Inventory Turnover ratio (cost of goods sold from the income statement divided by average inventory) for both Nike and Under Armor for the year ended in 2019. Show your work and report the ratios in the below table. Discuss in a 2-3 complete sentences, what you can infer from the difference. Nike Under Armour 5. Compute the Days in Inventory for Under Armor and Nike for the year ended in 2019. Discuss in a few sentences, what you can infer from the difference. Nike Under Armour Provide your answers in one Word document (you can download this document and fill in accordingly). Under Armour, Inc. and Subsidiaries Consolidated Balance Sheets (In thousands, except share data) December 31, 2019 December 31, 2018 Assets $ $ 788,072 708.714 557,403 652,546 Current assets Cash and cash equivalents Accounts receivable, net Inventories Prepaid expenses and other current assets Total current assets 892,258 313,165 1,019,496 364.183 2,702,209 792.148 2,593,628 826,868 591,931 550,178 546,494 Property and equipment, net Operating lease right-of-use assets Goodwill Intangible assets, net Deferred income taxes Other long term assets Total assets 36,345 41,793 82,379 112.420 88,341 123,819 $ 4.843,531 $ 4,245,022 $ 618.194 $ 560,884 340.415 374,694 219,424 125.900 301,421 25,000 83.797 88,257 1.422.009 1,315,977 703,834 Liabilities and Stockholders' Equity Current liabilities Accounts payable Accrued expenses Customer refund liabilities Operating lease liabilities Current maturities of long term debt Other current liabilities Total current liabilities Long term debt, net of current maturities Operating lease liabilities, non-current Other long term liabilities Total liabilities Commitments and contingencies (see Note 8) Stockholders' equity Class A Common Stock, $0.0003 1/3 par value; 400,000,000 shares authorized as of December 31, 2019 and 2018; 188,289,680 shares issued and outstanding as of December 31, 2019, and 187,710,319 shares issued and outstanding as of December 31, 2018. Class B Convertible Common Stock, $0.0003 1/3 par value; 34,450,000 shares authorized, issued and outstanding as of December 31, 2019 and 2018. Class C Common Stock, $0.0003 1/3 par value: 400,000,000 shares authorized as of December 31, 2019 and 2018, 229,027,730 shares issued and outstanding as of December 31, 2019, and 226,421,963 shares issued and outstanding as of December 31, 2018. 592,687 580,635 98,113 208,340 2,693.444 2,228, 151 18 = 12 THE 21 11 Under Armour, Inc. and Subsidiaries Consolidated Statements of Comprehensive Income (Loss) (In thousands) Year Ended December 31, 2019 2018 2017 $ 92.139 (46,302) $ (48,260) 10.754 (18,535 23,357 Net income (loss) Other comprehensive income (loss): Foreign currency translation adjustment Unrealized gain (loss) on cash flow hedge, net of tax benefit (expense) of $7,798, $(7,936), and $5,668 for the years ended December 31, 2019, 2018, and 2017, respectively. Loss on intra-entity foreign currency transactions Total other comprehensive income (loss) Comprehensive income (loss) (21.646) 22,800 (16,624) (886) (5,041) 7,199 13,932 (11,778) 80,361 (776) (47,078) $ $ $ (34,328) Under Armour, Inc. and Subsidiaries Consolidated Statements of Operations (In thousands, except per share amounts) Year Ended December 31, 2019 2018 2017 $ 5,267,132 $ $ 5,193,185 2,852,714 4,989.244 2,737,830 2,796,599 2,340,471 Net revenues Cost of goods sold Gross profit Selling, general and administrative expenses Restructuring and impairment charges Income (loss) from operations Interest expense, net 2,470,533 2,233,763 2,182,339 183,149 2,251,414 2,099,522 124.049 236,770 (25,017) 27,843 (33,568) (34,538) Other expense, net Income (loss) before income taxes Income tax expense (benefit) Income (loss) from equity method investment Net income (loss) (21,240) (5,688) 209,842 70,024 (47,679) (9,203) (67,788) (20,552) 934 (3,614) (10,309) 37,951 92,139 $ (46,302) $ (48,260) $ $ (0.10) $ Basic net income (loss) per share of Class A, B and C common stock Diluted net income (loss) per share of Class A, B and C common stock 0.20 0.20 (0.11) (0.11) $ $ (0.10) $ Weighted average common shares outstanding Class A, B and C common stock Basic Diluted 440.729 450.964 454.274 445,815 445,815 440,729 Under Armour, Inc. and Subsidiaries Consolidated Statements of Stockholders' Equity (In thousands) Class A Class B B Convertible Common Stock Class C Common Stock Common Stock Total Additional Paid-in- Capital Retained Earnings Accumulated Other Comprehensive Income Shares Amount Shares Amount Shares Amount Equity Balance as of December 31, 2016 183.815 61 34,450 11 220,174 73 823,484 1,259,414 (52,143) 2,030,900 Exercise of stock options 00 556 3,664 3,664 Shares withheld in consideration of employee tax obligations relative to stock-based compensation arrangements (65) (78) (2.781 (2.781) 898 Issuance of Class A Common Stock, net of forfeitures Issuance of Class C Common Stock, net of forfeitures C 1,723 7,852 7,853 Impact of adoption of accounting standard updates (2.666) (23,932) (26,598) Stock-based compensation expense 39,932 39,932 Comprehensive income (loss) (48,260 13,932 (34,328) Balance as of December 31, 2017 185,257 $ 61 34,450 11 222,375 $ 74 $ 872.266 $ 1,184,441 $ (38,211) $ 2,018,642 2.084 2,127 6,747 6,748 Exercise of stock options and warrants Shares withheld in consideration of employee tax obligations relative to stock-based compensation arrangements (23 (140) (2,564 (2,564) Issuance of Class A Common Stock, net of forfeitures A , 392 Issuance of Class C Common Stock, net of forfeitures 2,060 i (4.168 (4.167) Impact of adoption of accounting standard updates 3,507 3,507 Stock-based compensation expense 41,783 41,783 Comprehensive loss (46,302) (776) (47,078) Balance as of December 31, 2018 187,710 $ 62 34,450 $ 11 226,422 $ 75 $ 916.628 $ 1,139,082 $ (38,987) $ 2,016,871 Exercise of stock options 441 293 2.101 2,101 (15 (227 (4.235) (4,235) Shares withheld in consideration of employee tax obligations relative to stock-based compensation arrangements Issuance of Class A Common Stock, net of forfeitures A Issuance of Class C Common Stock, net of forfeitures , 154 2,540 5,370 5,371 Stock-based compensation expense 49,618 49,618 Comprehensive income (loss) 92,139 (11,778) 80,361 Balance as of December 31, 2019 188,290 $ 62 34,450 $ 11 229,028 $ 76 $ 973,717 $ 1,226,986 $ (50,765) $ 2,150,087 Under Armour, Inc. and Subsidiaries Consolidated Statements of Cash Flows (In thousands) Year Ended December 31, 2019 2018 2017 $ 92,139 $ (46,302) $ (48,260) Cash flows from operating activities Net income (loss) ( Adjustments to reconcile net income (loss) to net cash provided by operating activities Depreciation and amortization Unrealized foreign currency exchange rate gain (loss) 186,425 173,747 181,768 14,023 (2,073) (29,247 39,000 9,893 71,378 Impairment charges Amortization of bond premium 254 254 254 Loss on disposal of property and equipment 4,640 4,256 2,313 Stock-based compensation 49,618 41,783 39,932 Excess tax benefit (loss) from stock-based compensation arrangements ( (75) 55,910 Deferred income taxes 38,132 (38,544) Changes in reserves and allowances (26,096) (234,998 108,757 Changes in operating assets and liabilities: Accounts receivable (45,450) 186,834 (79,106) Inventories 149,519 (222,391) 109,919 (107,855 Prepaid expenses and other assets 24,334 (52,106) Other non-current assets 19,966 Accounts payable 59,458 26,413 145,695 Accrued expenses and other liabilities (18,987) 134,594 109,823 Customer refund liability (80.710) 305,141 Income taxes payable and receivable 18.862 41,051 (39,164) Net cash provided by operating activities 509,031 628,230 237,460 Cash flows from investing activities (145,802) (170,385) (281,339) Purchases of property and equipment Sale of property and equipment 11,285 (39,207) Purchase of equity method investment Purchases of other assets Net cash (used in) provided by investing activities (1,311) (4,597) (1,648) (147,113) (202,904) (282,987) Cash flows from financing activities Proceeds from long term debt and revolving credit facility 25,000 505,000 763,000 (162,817) (665,000) Payments on long term debt and revolving credit facility Employee taxes paid for shares withheld for income taxes Proceeds from exercise of stock options and other stock issuances (695,000) (2,743) (2,781) (4,235) 7,472 2,580 11,540 306 Other financing fees Payments of debt financing costs Net cash used in financing activities 63 (2,553) (11) (137,070) (189,868) 106,759 5,100 12,467 4,178 Effect of exchange rate changes on cash, cash equivalents and restricted cash Net increase in cash, cash equivalents and restricted cash 229,948 247,925 65,410 Cash, cash equivalents and restricted cash Beginning of period 566,060 318,135 252,725 End of period 796,008 $ 566,060 $ 318,135 $ (8,084) $ (14,611) $ 10,580 Non-cash investing and financing activities Change in accrual for property and equipment Other supplemental information Cash paid (received) for income taxes, net of refunds 23,352 (16,738) 36,921 29,750 Cash paid for interest, net of capitalized interest 18,031 28,586 $ 6 6 $ 9 336 2,612 5,010 229 7,866 3,464 3,347 2,279 3,269 150 6,040 3,468 3,216 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Current portion of long-term debt Notes payable Accounts payable Accrued liabilities Income taxes payable Total current liabilities Long-term debt Deferred income taxes and other liabilities Commitments and contingencies (Note 18) Redeemable preferred stock Shareholders' equity: : Common stock at stated value: Class A convertible -- 315 and 329 shares outstanding Class B - 1,253 and 1,272 shares outstanding Capital in excess of stated value Accumulated other comprehensive income (loss) Retained earnings Total shareholders' equity TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 3 3 7,163 231 6,384 (92) 3,517 1,643 9,040 23,717 9,812 S $ 22,536 NIKE, INC. CONSOLIDATED STATEMENTS OF INCOME 2019 2017 $ (In millions, except per share data) Revenues Cost of sales Gross profit Demand creation expense Operating overhead expense Total selling and administrative expense Interest expense (income), net Other (income) expense, net Income before income taxes Income tax expense NET INCOME YEAR ENDED MAY 31, 2018 39,117 $ 36,397 $ 21,643 20,441 17,474 15,956 3,753 3,577 8,949 7,934 12,702 11,511 49 54 34,350 19,038 15,312 3,341 7,222 10,563 59 (196) 66 (78) 4,801 772 4,325 2,392 1,933 $ 4,886 646 4.240 $ 4,029 $ Earnings per common share: Basic 2.55 $ 1.19 $ 2.56 $ $ 2.49 $ 1.17 $ 2.51 Diluted Weighted average common shares outstanding: Basic 1,623.8 1,579.7 1,618.4 1,657.8 1,692.0 Diluted 1,659.1 NIKE, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Dollars in millions) 2019 YEAR ENDED MAY 31, 2018 $ 1,933 2017 Net income $ 4,029 $ 4,240 (173) 503 Other comprehensive income (loss), net of tax: Change in net foreign currency translation adjustment Change in net gains (losses) on cash flow hedges Change in net gains (losses) on other Total other comprehensive income (loss), net of tax TOTAL COMPREHENSIVE INCOME (6) 76 34 (7) 323 16 (515) (32) (531) 3,709 104 $ 4,352 S 2,037 $