Nike, Inc., is the best-known sports shoe, apparel, and equipment company in the world because of its

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Nike, Inc., is the best-known sports shoe, apparel, and equipment company in the world because of its association with sports legends such as Michael Jordan, teams such as the Michigan Wolverines, and events such as the Olympics. Some of the items included in its recent annual consolidated statement of cash flows presented using the indirect method are listed here.

Indicate whether each item is disclosed in the Operating Activities (O), Investing Activities (I), or Financing Activities (F) section of the statement or (NA) if the item does not appear on the statement.

(Note: This is the exact wording used on the actual statement.) 1. Depreciation. 2. Additions to property, plant, and equipment. 3. Increase (decrease) in notes payable. (The amount is owed to financial institutions.) 4. (Increase) decrease in other current assets. 5. Disposal of property, plant, and equipment. 6. Reductions in long-term debt including current portion. 7. Repurchase of stock. 8. (Increase) decrease in inventory. 9. Net income. 10. Additions to long-term debt.

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Financial Accounting

ISBN: 9780070891739

1st Canadian Edition

Authors: Robert Libby

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