The provision for income taxes is as follows: Nike also states the following inventory of 2.39% and other items of 0.64 . Required a. Record Nike's provision for income taxes for 2020 using the financial statement effects template. b. Explain how the provision for income taxes affects Nikes financial statements: c. Caiculate Nike's effective tax rate for 2020, 2019, and 2018. - Note: Use negative signs with your answers, when appropriate. - Note: Select "N/A" as your answer if a part of the accounting equationis not affected: - Note: Select W/A' as your answoc if a part of the accounting equation is not affected. i. b. An expense of s million, income caxes payabie (assuming the amount due this year has noc been pald yet) and lisbilitits afe decreased for assets are increasedi) by the s? above as a decrease in deferred income tax fiabalities. c. b. An expense of 1 x milion is recorded in the income statement, thereby reducing both net income and retained eamings. Liabaities are hcreased by milich shand above as a decrease in deferred income tax lathilities. The provision for income taxes is as follows: Nike also states the following inventory of 2.39% and other items of 0.64 . Required a. Record Nike's provision for income taxes for 2020 using the financial statement effects template. b. Explain how the provision for income taxes affects Nikes financial statements: c. Caiculate Nike's effective tax rate for 2020, 2019, and 2018. - Note: Use negative signs with your answers, when appropriate. - Note: Select "N/A" as your answer if a part of the accounting equationis not affected: - Note: Select W/A' as your answoc if a part of the accounting equation is not affected. i. b. An expense of s million, income caxes payabie (assuming the amount due this year has noc been pald yet) and lisbilitits afe decreased for assets are increasedi) by the s? above as a decrease in deferred income tax fiabalities. c. b. An expense of 1 x milion is recorded in the income statement, thereby reducing both net income and retained eamings. Liabaities are hcreased by milich shand above as a decrease in deferred income tax lathilities