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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 Total assets at May 31, 2016 21,379 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 Working capital in millions) 9,094 $ 10,587 b. Current ratio 2.5 2.9 C. Quick ratio 1.4 1.8 d Accounts receivable tumover 10.1 9.97 e. Number of days' sales in receivables 36 days 37 X days Inventory turnover 4 3.8 9 Number of days sales in inventory 91.3 X days 96 X days h Ratio of liabilities to stockholders equity 1.3 0.9 i. Asset turnover 1.6 1.5 Return on total assets 8 X 19 X % k Return on stockholders equity 0.3 X % 0.2 X % Price-camnings ratio, assuming that the market price was $72.12 per 20.7 X 60.6 X share on May 29, 2018, and $53.06 per share on May 30, 2017 2. The working carital decreased between 2017 and 2018. The current and quick ratios both decreased during 2018. The accounts receivable turno 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 Total assets at May 31, 2016 21,379 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 Working capital (in millions) 9,094 $ 10,587 D. Current ratio 2.5 2.9 C Quick ratio 1.4 1.8 d. Accounts receivable tumover 10.1 9.9 e Number of days sales in receivables 36 days 37 X days Inventory turnover 4 3.8 9 Number of days sin inventory 91.3 X days 96 X days h Ratio of abilities to stockholders equity Asset tumover 1.6 1.5 Return on total assets 8 X % 19 X K Return on stockholders equity 0.3 X 0.2 X % Price-camnings ratio, assuming that the market price was $72.12 per 20.7 X 60.6 X share on May 29, 2018, and $53,06 per share on May 30, 2017 1.3 0.9
