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Suppose the following items were taken from the balance sheet of Nike, Inc. (All dollars are in millions.) 1. Cash $2,200.0 7. Inventory $2,100.0 2.
Suppose the following items were taken from the balance sheet of Nike, Inc. (All dollars are in millions.) 1. Cash $2,200.0 7. Inventory $2,100.0 2. Accounts receivable 2,800.0 8. Income taxes payable 70.0 3. Common stock 2,850.0 9. Equipment 1,700.0 4. Notes payable 300.0 10. Retained earnings 5,760.0 5. Buildings 3,500.0 11. Accounts payable 2,230.0 6. Mortgage payable 1,090.0 (b) Determine Nike's accounting equation by calculating the value of total assets, total liabilities, and total stockholders' equity. (Round answers to 1 decimal place, e.g. 5,275.5.) Assets Liabilities Stockholders' Equity $
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