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Suppose the following items were taken from the balance sheet of Nike, Inc. (All dollars are in millions.) Perform each of the following. Determine Nike's
Suppose the following items were taken from the balance sheet of Nike, Inc. (All dollars are in millions.) Perform each of the following. Determine Nike's accounting equation by calculating the value of total assets, total liabilities, and total stockholders' equity. (Enter amounts in millions rounded to 1 decimal place, e.g. 45.5 million.) Calculate the debt and equity financing. (Round percentages to 0 decimal places, e.g. 52\%.) Debt Equity % % To what extent does Nike rely on debt versus equity financing? Nike has relied more heavily on than to finance its assets. Classify each of these items as an asset, liability, or stockholders' equity item, and determine the total dollar amount for each classification. (Enter amounts in millions rounded to 1 decimal place, e.g. 45.5 million.) Cash Accounts receivable Common stock Notes payable Buildings Mortgage payable Inventory Income taxes payable Equipment Retained earnings Accounts payable $$millionmillion Stockholders' equity $ million
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