1. Use Nikes Selected Financial Data on in Appendix B to identify the gross margin percent for 20162012. Round gross margin percents to one decimal place.
2. Management has implemented strategies to generate more income from each item sold. Is the trend in the gross margin percent favorable or unfavorable?
3. Show how amounts on Nikes Consolidated Statements of Income, on , were used to calculate the margin percent for 2016.

1st Quarter 2016 2015 $ 8,414 $ 7,982 3,995 3,721 47.5% 46.6% 1.179 962 2nd Quarter 2016 2015 $ 7,686 $ 7,380 3,501 3,327 45.6% 45.1% 785 655 3rd Quarter 2016 2015 $ 8,032 $ 7,460 3,689 3,426 45.9% 45.9% 950 791 4th Quarter 2016 2015 $ 8,244 $ 7,779 3,786 3,593 45.9% 46.2% 846 865 0.56 0.46 0.38 0.56 0.50 (Unaudited) (in millions, except per share data) Revenues Gross profit Gross margin % Net income Earnings per common share: Basic Diluted Weighted average common shares outstanding Diluted weighted average common shares outstanding Cash dividends declared per common share Price range of common stock: High Low 0.69 0.67 0.46 0.45 0.50 0.49 0.54 0.45 0.37 0.55 0.49 1.709.0 1.729.8 1,706.5 1.726,2 1,693.8 1.722.9 1,682.4 1.715.0 1.7545 1.7724 1.751.4 1.769.6 1.737.3 1,7677 1.723.1 1,759,6 0.14 0.12 0.16 0.14 0.16 0.14 0.16 0.14 49.75 65.44 58.86 47.25 40.15 36.57 67.65 5401 49.88 39.18 68.19 53.64 52.75 47.59 43.35 55.17