JS_accounting_proj

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Accounting

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Feb 20, 2024

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Joshua Stokes Accounting Project 12. Did your company’s net income (earnings) increase or decrease from the previous fiscal year to the current fiscal year? What was the percentage change in net income (earnings) from the previous fiscal year to the current fiscal year? Round your percentage to the nearest hundredth of a percent. Show your calculation. Nike’s total income increase by 126% from $2,539,000,000 in FY20 to $5,727,000,000 in FY21. This equation was already provided. (Nike 10-K, pg 31) 13. What was your company’s Basic EPS for the most recent fiscal year? Nike’s basic EPS was $3.64. (Nike 10-K, pg 57 & 79) 14. What was your company’s Diluted EPS for the most recent fiscal year? Nike’s diluted EPS was $3.56. (Nike 10-K, pg 57 & 79) 15. What was your company’s effective tax rate for the most recent fiscal year? [Hint: If your company does not calculate it, you can calculate the effective tax rate as Provision for income taxes ÷ Income before taxes.] Effective tax rate was 14% for FY2021 (Nike 10-K, pg 35) 16. Using the totals on your company’s Balance Sheet for the most recent fiscal year, show that the accounting equation holds for your company. * Below equation is in millions* Assets = Liabilities + Stockholders Equity 37,740 = (9,674+9,413+2,931+2,955) + (9,965-380+3,179) 37,740 = 24,973 + 12,767 37,740 = 37,740 (Nike 10-K, pg 59) 17. What is your company’s largest asset? Nike’s largest asset is Cash & Equivalents at $9,889,000,000. (Nike 10-K, pg 59) 18. Does your company have any accounts receivable and if so, what is the balance for the most recent fiscal year? Nike has an accounts receivable value of $4,463,000,000. (Nike 10-K, pg 59) 19. Does your company have any inventory and if so, what is the balance for the most recent fiscal year?

Joshua Stokes Accounting Project Nike has an inventory value of $6,854,000,000. (Nike 10-K, pg 59) 20. How many shares of common stock is your company authorized to issue? Class A was authorized 400,000,000 shares and Class B was authorized 2,400,000,000 shares of common stock to be issued. (Nike 10-K, pg 77) 21. What is the par value per share of your company’s common stock? Nike common stock has no par value based on this excerpt from their 10-K report,” The authorized number of shares of Class A Common Stock, no par value, and Class B Common Stock, no par value, are 400 million and 2,400 million, respectively.” (Nike 10-K, pg 77) 22. How many common shares were outstanding at the end of your company’s most recent fiscal year? Nike has 620,000,000 shares of Class A common stock and 2,516,000,000 of Class B common stock . (Nike 10-K, pg 59) 23. Does your company have any preferred stock outstanding? If yes, is it cumulative or noncumulative? Nike has preferred stock, none outstanding, with a cumulative dividend of $0.10 per share, payable on May 31 each year. (Nike 10-K, pg. 77) 24. What was your company’s net cash provided by or used by operating activities for the most recent fiscal year? Nike was provided $6,657,000,000 by operations. (Nike 10-K, pg 60) 25. What was your company’s net cash provided by or used by investing activities for the most recent fiscal year? Nike used $3,800,000,000 for investing activities. (Nike 10-K, pg 60) 26. What was your company’s net cash provided by or used by financing activities for the most recent fiscal year? Nike used $1,459,000,000 for financing activities. (Nike 10-K, pg 60)

Joshua Stokes Accounting Project 27. Did cash and cash equivalents for your company increase or decrease during the most recent fiscal year, and by how much? Nike’s cash and equivalent went up this year from $8,348,000,000 to $9,889,000,000. (Nike 10-K, pg. 59) Statement of Shareholders’ Equity 28. Did your company declare any cash dividends during the most recent fiscal year? If yes, what was the amount of the cash dividend? Nike’s cash dividends were $1,638,000,000. (Nike 10-K, pg. 60) 29. What caused the biggest increase in your company’s total stockholders’ equity during the most recent fiscal year? Nike had cash and equivalents of $9,889,000,000 that increased stockholders’ equity. (Nike 10-K, pg 59) 30. What caused the biggest decrease in your company’s total stockholders’ equity during the most recent fiscal year? Nike had long term debt costs of $9,413,000,000 decreasing stockholders’ equity. (Nike 10- K, pg 59)

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