Analyzing Financial Statements (Research and Analysis)

Using the Nike, Inc. financial statements for fiscal years 2017-2020, answer the following:

Nike Financial Information

a.	Use the spreadsheet to calculate as many of the companys profitability, turnover-control, and leverage and liquidity ratios as you can for these years (see Table 2.4 in text for a list of possible ratios). - Show your work.
b.	What do these ratios suggest about the companys performance over this period?
	NIKE, INC.
	BALANCE SHEET ($ millions)
		2017	2018	2019	2020
	ASSETS
	Cash & Short-Term Investments	6,179	5,245	4,663	8,787
	Net Receivables	3,677	3,498	4,272	2,749
	Inventories	5,055	5,261	5,622	7,367
	Prepaid Assets	1,150	1,130	1,968	1,653
	Total Current Assets	16,061	15,134	16,525	20,556
	Gross Plant, Property & Equipment	7,958	8,891	9,469	12,758
	Accumulated Depreciation	3,969	4,437	4,725	4,795
	Net Plant, Property & Equipment	3,989	4,454	4,744	7,963
	Intangibles	422	439	437	497
	Other Assets	2,787	2,509	2,011	2,326
	TOTAL ASSETS	23,259	22,536	23,717	31,342
	LIABILITIES
	Long Term Debt Due in One Year	331	342	15	696
	Accounts Payable	2,048	2,279	2,612	2,248
	Taxes Payable	280	374	463	358
	Accrued Expenses	1,080	1,196	1,215	1,038
	Other Current Liabilities	1,735	1,849	3,561	3,944
	Total Current Liabilities	5,474	6,040	7,866	8,284
	Long Term Debt	3,471	3,468	3,464	12,319
	Deferred Liabilities	1,907	3,216	3,347	2,684
	TOTAL LIABILITIES	10,852	12,724	14,677	23,287
	EQUITY
	Common Stock	3	3	3	3
	Additional Paid in Capital	8,638	6,384	7,163	8,299
	Retained Earnings	3,979	3,517	1,643	(191)
	Other Gains	(213)	(92)	231	(56)
	TOTAL EQUITY	12,407	9,812	9,040	8,055
	TOTAL LIABILITIES & EQUITY	23,259	22,536	23,717	31,342
	Common Shares Outstanding	1,643	1,601	1,568	1,558
	INCOME STATEMENT ($ millions, except per share)
		2017	2018	2019	2020
	Sales	34,350	36,397	39,117	37,403
	Cost of Goods Sold	19,038	20,441	21,643	21,162
	Gross Profit	15,312	15,956	17,474	16,241
	Selling, General, & Administrative Exp.	10,563	11,511	12,702	13,126
	Operating Profit	4,749	4,445	4,772	3,115
	Interest Expense	59	54	49	89
	Other Expense	(196)	66	(78)	139
	Pretax Income	4,886	4,325	4,801	2,887
	Provision for Taxes	646	2,392	772	348
	Net Income	4,240	1,933	4,029	2,539
	EPS	2.58	1.21	2.57	1.63

You must show your work for (a) and be at least 100 words for (b) for without the question or references. Support your opinions with credible reference(s). Cite your references