Please record the adjustments in the first two preformatted worksheets and post the updated figures.

There are some check figures below if needed. please fill the entries even the check figures do not match

Transactions (amounts in $millions):

a) Purchased inventories, on account, terms 2/10, n/45, $1,300.

b) Sales of inventories, on account, terms 3/10, n/30, $1,500. The cost of these inventories was $800.

c) The customer paid for the merchandise sold in "b," 6 days after the sale.

d) Paid salaries of $980, cash. Use the expense you feel is most appropriate.

e) Paid a cash dividend on the common stock, $459.

f) Incurred and paid additional income taxes, $130, cash.

Fill the adjustments entries and updated figures,

Here is some Nike, Inc., check figures (updated) once you fill the adjustment entries.

• Gross profit $16,896
• Net income $2,084
• Ending retained earnings $(1,105). It is a negative (deficit) balance.
• Cash $8,234
• Total assets $31,728

B C D E F G H 1 a b d f Updated $ 1 Nike, Inc. 2 Statement of Income 3 Year ended May 31, 2020 4 in Smillions 5 Revenues 6 Cost of sales 7 Gross profit 8 Demand creation expense 9 Operating overhead expense 10 Total selling and administrative expense 11 Interest expense (income), net 12 Other (income) expense, net 13 Income before income taxes 14 Income tax expense 15 NET INCOME 16 17 Nike, Inc. 18 Statement of Retained Earnings 19 Year ended May 31, 2020 20 Balance, May 31, 2019 21 Repurchase of Class B Common Stock 22 Dividends on common stock 23 Issuance of shares to employees, net 24 Net income 25 Adoption of ASC Topic 842 26 Balance, May 31, 2020 37,403 21,162 16,241 3,592 9,534 13,126 89 139 2,887 348 2,539 $ $ 1,643 (2,872) (1,491) (9) 2,539 (1) (191) $ c D E F G H 1 1. 2 3 4 5 b d f Updated 7 8 9 10 11 12 A Nike, Inc. Balance Sheet May 31, 2020 millions ASSETS Current assets: Cash and cash equivalents Short-term investmento Accounts receivable, net Inventorics Prepaid expenses and other current pote Total current assets Property, plant and equipment, net Operating lease right-of-use assets, net Identifiable intangible sot, net Goodwill Deferred income taxes and other assets TOTAL ASSETS 8,348 439 2,749 7,367 1,653 20,556 4,866 3,097 15 274 17 223 2,326 31342 20 LIABILITIES AND SHAREHOLDERS' EQUITY 21 Current liabilities: 22 Current portion of long-term debt Notas payable Accounts payable 25 Current portion of operating lease liabilities Accrued liabilities 27 Income taxes payabal 28 Total current liabilities Long-term debt Operating losse liabilities 31 Deferred income taxes and other liabilities 32 Commitments and contingencies Redeemable preferred stock 34 Stockholders' cquity 35 Class A convertible common stock Class B common stock 37 Capital in excess of stated value Accumulated other comprehensive (logo) Retained ournings (deficit) 20 Total shareholders' cquity 41 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 248 2,248 445 5,184 156 8,284 9,406 2,913 2,684 3 8,299 (56) (191) 8,055 31,342