Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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
a. Working capital (in millions) $ fill in the blank 1 $ fill in the blank 2
b. Current ratio fill in the blank 3 fill in the blank 4
c. Quick ratio fill in the blank 5 fill in the blank 6
d. Accounts receivable turnover fill in the blank 7 fill in the blank 8
e. Number of days' sales in receivables fill in the blank 9 days fill in the blank 10 days
f. Inventory turnover fill in the blank 11 fill in the blank 12
g. Number of days' sales in inventory fill in the blank 13 days fill in the blank 14 days
h. Ratio of liabilities to stockholders' equity fill in the blank 15 fill in the blank 16
i. Asset turnover fill in the blank 17 fill in the blank 18
j. Return on total assets fill in the blank 19% fill in the blank 20%
k. Return on stockholders' equity fill in the blank 21% fill in the blank 22%
l. Price-earnings ratio, assuming that the market price was $72.12 per share on May 29, 2018, and $53.06 per share on May 30, 2017. fill in the blank 23 fill in the blank

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

Step: 3

blur-text-image

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

Using Financial Accounting Information The Alternative to Debits and Credits

Authors: Gary A. Porter, Curtis L. Norton

8th edition

1111534918, 978-1111534912

More Books

Students also viewed these Accounting questions