Financial Reporting Problem Part 1
Here are the most recent Balance Sheets and Income Report for Nike Corporation.
Stephan Miles
University of Phoenix XACC290
Instructor Chronister 12/1/2014
Financial Reporting Problem Part 1
Here are the most recent Balance Sheets and Income Report for Nike Corporation.
Annual Income Statement (values in 000's) Get Quarterly Data (Balance Sheet)
Period Ending:
Trend
5/31/2014
5/31/2013
5/31/2012
5/31/2011
Current Assets
Cash and Cash Equivalents

$2,220,000
$3,337,000
$2,317,000
$1,955,000
Short-Term Investments

$2,922,000
$2,628,000
$1,440,000
$2,583,000
Net Receivables

$3,789,000
$3,425,000
$3,394,000
$3,450,000
Inventory

$3,947,000
$3,484,000
$3,222,000
$2,715,000
Other Current Assets

$818,000
$756,000
$1,472,000
$594,000
Total Current Assets

$13,696,000
$13,630,000
$11,845,000
$11,297,000
Long-Term Assets
Long-Term Investments

$0
$0
$0
$0
Fixed Assets

$2,834,000
$2,452,000
$2,209,000
$2,115,000
Goodwill

$131,000
$131,000
$131,000
$205,000
Intangible Assets

$282,000
$289,000
$370,000
$487,000
Other Assets

$0
$0
$0
$0
Deferred Asset Charges

$1,651,000
$1,043,000
$910,000
$894,000
Total Assets

$18,594,000
$17,545,000
$15,465,000
$14,998,000
Current Liabilities
Accounts Payable

$4,853,000
$3,789,000
$3,555,000
$3,571,000
Short-Term Debt / Current Portion of Long-Term Debt

$174,000
$155,000
$157,000
$387,000
Other Current Liabilities

$0
$18,000
$170,000
$0
Total Current Liabilities

$5,027,000
$3,962,000
$3,882,000
$3,958,000
Long-Term Debt

$1,199,000
$1,210,000
$228,000
$276,000
Other Liabilities

$0
$0
$0
$0
Deferred Liability Charges

$1,544,000
$1,292,000
$974,000
$921,000
Misc. Stocks

$0
$0
$0
$0
Minority Interest

$0
$0
$0
$0
Total Liabilities

$7,770,000
$6,464,000
$5,084,000
$5,155,000
Stock Holders’ Equity
Common Stocks

$3,000
$3,000
$3,000
$3,000
Capital Surplus

$5,865,000
$5,184,000
$4,641,000
$3,944,000
Retained Earnings

$4,871,000
$5,620,000
$5,588,000
$5,801,000
Treasury Stock

$0
$0
$0
$0
Other Equity

$85,000
$274,000
$149,000
$95,000
Total Equity

$10,824,000
$11,081,000
$10,381,000
$9,843,000
Total Liabilities & Equity

$18,594,000
$17,545,000
$15,465,000
$14,998,000
(nasdaq.com/nike, 2014)
Income Statement
Top of Form
Annual Income Statement (values in 000's) Get Quarterly Data
Period Ending:
Trend
5/31/2014
5/31/2013
5/31/2012
5/31/2011
Total Revenue

$27,799,000
$25,313,000
$23,331,000
$20,117,000
Cost of Revenue

$15,353,000
$14,279,000
$13,183,000
$10,915,000
Gross Profit

$12,446,000
$11,034,000
$10,148,000
$9,202,000

Operating Expenses
Research and Development

$0
$0
$0
$0
Sales, General and Admin.

$8,766,000
$7,796,000
$7,079,000
$6,361,000
Non-Recurring Items

$0
$0
$0
$0
Other Operating Items

$0
$0
$0
$0
Operating Income

$3,680,000
$3,238,000
$3,069,000
$2,841,000
Add'l income/expense items

($103,000)
$15,000
($54,000)
$25,000
Earnings Before Interest and Tax

$3,544,000
$3,256,000
$3,011,000
$2,862,000
Interest Expense

$0
$0
$0
$0
Earnings Before Tax