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Accounting
NIKE, INC. Consolidated Statement of Income In $ Millions Revenues Cost of sales Gross profit Demand creation expense Operating overhead expense Total selling and administrative expense 3 Interest expense (income), net Other (income) expense, net Income before income taxes 5 3 Income tax expense " Net Income B B Year Ended Common Sized Year over Year Change May 31 2022 May 31 2021 May 31 2020 May 31 2022 May 31 2021 May 31 2022 May 31 2021 46,710.00 25,231.00 21,479.00 3,850.00 10,954.00 14,804.00 205.00 -181.00 6,651.00 605.00 6,046.00 44,538.00 24,576.00 19,962.00 3,114.00 9,911.00 13,025.00 262.00 14.00 6,661.00 934.00 5,727.00 37,403.00 21,162.00 16,241.00 3,592.00 9,534.00 13,126.00 89.00 139.00 2,887.00 348.00 2,539.00 4.88 2.67 7.6 23.64 10.52 13.66 -21.76 -1,392.86 -0.15 -35.22 5.57 19.08 16.13 22.91 -13.31 3.95 -0.77 194.38 -89.93 130.72 168.39 125.56 2,172.00 655 1,517.00 736 1,043.00 1,779.00 -57 -195 -10 -329 319 7,135.00 3,414.00 3,721.00 -478 377 -101 173 -125 3,774.00 586 3,188.00

NIKE, INC. Consolidated Statement of Income In $ Millions Revenues Cost of sales Gross profit Demand creation expense Operating overhead expense Total selling and administrative expense 3 Interest expense (income), net Other (income) expense, net Income before income taxes 5 3 Income tax expense " Net Income B B Year Ended Common Sized Year over Year Change May 31 2022 May 31 2021 May 31 2020 May 31 2022 May 31 2021 May 31 2022 May 31 2021 46,710.00 25,231.00 21,479.00 3,850.00 10,954.00 14,804.00 205.00 -181.00 6,651.00 605.00 6,046.00 44,538.00 24,576.00 19,962.00 3,114.00 9,911.00 13,025.00 262.00 14.00 6,661.00 934.00 5,727.00 37,403.00 21,162.00 16,241.00 3,592.00 9,534.00 13,126.00 89.00 139.00 2,887.00 348.00 2,539.00 4.88 2.67 7.6 23.64 10.52 13.66 -21.76 -1,392.86 -0.15 -35.22 5.57 19.08 16.13 22.91 -13.31 3.95 -0.77 194.38 -89.93 130.72 168.39 125.56 2,172.00 655 1,517.00 736 1,043.00 1,779.00 -57 -195 -10 -329 319 7,135.00 3,414.00 3,721.00 -478 377 -101 173 -125 3,774.00 586 3,188.00

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Could you please correct this and tell me where I went wrong please. Thank you. 

A 1 NIKE, INC. 2 Consolidated Statement of Income 3 In $ Millions 4 5 6 7 Revenues 8 Cost of sales 9 Gross profit 10 Demand creation expense 11 Operating overhead expense 12 15 16 17 18 19 Total selling and administrative expense 13 Interest expense (income), net 14 Other (income) expense, net Income before income taxes Income tax expense Net Income B May 31 2022 46,710.00 25,231.00 21,479.00 3,850.00 10,954.00 14,804.00 205.00 -181.00 6,651.00 605.00 6,046.00 D Year Ended May 31 2021 44,538.00 24,576.00 19,962.00 3,114.00 9,911.00 13,025.00 262.00 14.00 6,661.00 934.00 5,727.00 F 37,403.00 21,162.00 16,241.00 3,592.00 9,534.00 13,126.00 H Common Sized May 31 2020 May 31 2022 May 31 2021 89.00 139.00 2,887.00 348.00 2,539.00 4.88 2.67 7.6 23.64 10.52 13.66 -21.76 -1,392.86 J -0.15 -35.22 5.57 19.08 16.13 22.91 -13.31 3.95 -0.77 194.38 -89.93 130.72 168.39 125.56 L Year over Year Change May 31 2022 May 31 2021 2,172.00 655 1,517.00 736 1,043.00 1,779.00 N -57 -195 -10 -329 319 7,135.00 3,414.00 3,721.00 -478 377 -101 173 -125 3,774.00 586 3,188.00
Transcribed Image Text:A 1 NIKE, INC. 2 Consolidated Statement of Income 3 In $ Millions 4 5 6 7 Revenues 8 Cost of sales 9 Gross profit 10 Demand creation expense 11 Operating overhead expense 12 15 16 17 18 19 Total selling and administrative expense 13 Interest expense (income), net 14 Other (income) expense, net Income before income taxes Income tax expense Net Income B May 31 2022 46,710.00 25,231.00 21,479.00 3,850.00 10,954.00 14,804.00 205.00 -181.00 6,651.00 605.00 6,046.00 D Year Ended May 31 2021 44,538.00 24,576.00 19,962.00 3,114.00 9,911.00 13,025.00 262.00 14.00 6,661.00 934.00 5,727.00 F 37,403.00 21,162.00 16,241.00 3,592.00 9,534.00 13,126.00 H Common Sized May 31 2020 May 31 2022 May 31 2021 89.00 139.00 2,887.00 348.00 2,539.00 4.88 2.67 7.6 23.64 10.52 13.66 -21.76 -1,392.86 J -0.15 -35.22 5.57 19.08 16.13 22.91 -13.31 3.95 -0.77 194.38 -89.93 130.72 168.39 125.56 L Year over Year Change May 31 2022 May 31 2021 2,172.00 655 1,517.00 736 1,043.00 1,779.00 N -57 -195 -10 -329 319 7,135.00 3,414.00 3,721.00 -478 377 -101 173 -125 3,774.00 586 3,188.00
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