Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

show work as necessary and please be neat 14. In 2016, Nordstrom, Inc. reported the following (in millions): Current Assets Current Llabilities Long-term Liabilities $3,959

show work as necessary and please be neat
image text in transcribed
14. In 2016, Nordstrom, Inc. reported the following (in millions): Current Assets Current Llabilities Long-term Liabilities $3,959 Equity $870 $3,242 $3.020 What amount did Nordstrom report as total assets? A) $ 4,616 million B) $ 3,950 million C) $ 7,307 million D) $13,170 million E) None of the above 15. In its fiscal 2016 annual report, Nike, Inc. reported cash of $3,138 million at year end. The statement of cash flows reports the following (in millions): Net cash from operating activities Net cash from investing activities Net cash from financing activities $3,096 (1,034) (2,776) What was the balance in Nike's cash account at the start of fiscal 2016? A) $3,096 million B) $1,020 million C) $3,852 million D) $4,357 million E) None of the above 16. Sales on account would produce what effect on the balance sheet? A) Increase the Revenue account B) Increase noncash assets (Accounts receivable) C) Increase cash assets D) A and B E) A, B and C 17. The 2016 financial statements of The New York Times Company reveal average shareholders' equity attributable to controlling interest of $837.283 thousand, net operating profit after tax of $48,032 thousand, net income attributable to The New York Times Company of $29,068 thousand, and average net operating assets of $354,414 thousand. The company's return on equity (ROE) for the year is: A) 3.5% B) 13.8% C) 6.9% D) 14.3% E) There is not enough information to calculate the ratio

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

Financial Accounting Reporting, Analysis And Decision Making

Authors: Shirley Carlon

6th Edition

0730363279, 9780730363279

More Books

Students also viewed these Accounting questions