Instructions You are the CFO of an up-and-coming athletic company, which desires to someday become the #1 athletic company in the world. Strategically, the company uses Nike and Under Armour as their key competitor benchmarks. Your CEO is a big believer in learning from the competition and is requesting two things from you regarding Nike and Under Armours most recent annual reports: An Executive Summary and a brief Video Presentation of your findings.

NOTE: In order to complete this assignment, you will need to obtain each companys MOST RECENT(2017) annual report (Nike and Under Armour). Create an executive summary you would feel comfortable turning in to your CEO or to Jack that is no more than 2 pages, single-spaced using 12-point Times New Roman font. You may also include an appendix with additional references, graphs, charts, and tables for additional support if needed.

3. Inventory Management Who has more inventory in terms of days of inventory last year? (Inventory Days on Hand ratio) What are their respective 3-year trends for days of inventory? What accounting approach does each of the companies use to value their inventory? (The accounting approach can be found in the Notes section)

4. Cash is King How much net cash from operations did each company generate last year? Which company has done a better job generating cash from operations? In laymen's terms, how is each company spending their cash with respect to reinvestments in the business, changes in debt, and returning money to shareholders?