The finandial statements for Nike, Inc, are available in Appendix E. The followi

Question

The finandial statements for Nike, Inc, are available in Appendix E. The following additional information is available (in thousands) Accounts receivable at May 31, 2013: $3,117 Inventories at May 31, 2013: 3,484 Total assets at May 31, 2013: 17,545 Stockholders' equity at May 31, 2013: 11,081 1. Determine the following measures for the fiscal years ended May 31, 2015,a to the nearest dollar. Round all other final answers to one decimal place. When required, use the rounded final answers in subsequent computations. nd May 31, 2014. Do not round interim calculations. Round the w orking capital amount in part (a) Fiscal Year Fiscal Year 2015 2014 a. Working capital (in millions) b. Current ratio c. Quick ratio d. Accounts receivable turnover e. Number of days' sales in receivables f. Inventory turnover 9. Number of days' sales in inventory h. Ratio of liabilities to stockholders' equity i: Asset turnover j. Return on total assets, assuming interest expense is $28 million for the $ 8,669 2.5 1.5 V 9.0 82 X days 4.0 2.7 1.7 8.5 85 X days 4.1 days days 0.7 1.5 1.5 V

Explanation / Answer

e. Number of days sales in receivables = 365 / Receivable turnover

2015 = 365 / 9 = 40.6 days

2014 = 365 / 8.5 = 42.9 days

f. Number of days sales in Inventory = 365 / Inventory turnover ratio

2015 = 365 / 4 = 91.2 days

2014 = 365/4.1 = 89 days

Note : For computing remaining ratios .......... information is needed regarding EBIT, Net Income and EPS

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.