Problem $16-75.$ use the Nike $10-$K report in Appendix C to answer the following questions.

$1.$ What is Nike$$s principal business activity? What percentage of its sales are in the United States?

$2.$ How much did Nike$$s gross margin and gross margin as a percentage of revenue increase $($decrease$)$ in

fiscal $2011$ compared with fiscal $2010?$

$3.$ Compare Nike$$s working capital in fiscal $2010$ with that in fiscal $2011?$

$4.$ Nike had a decrease in cash of $$1,124$ million in fiscal $2011.$ What were the major causes of this decrease

in cash?

$5.$ Did Nike$$s board declare any cash dividends in fiscal $2011?$ If so$,$ how much? On what financial

statement did you find this?

$2$