Could you please correct this and tell me where I went wrong please. Thank you. A1 NIKE, INC.2 Consolidated Statement of Income3In $ Millions4567Revenues8Cost of sales9Gross profit10 Demand creation expense11 Operating overhead expense121516171819Total selling and administrative expense13 Interest expense (income), net14Other (income) expense, netIncome before income taxesIncome tax expenseNet IncomeBMay 31 202246,710.0025,231.0021,479.003,850.0010,954.0014,804.00205.00-181.006,651.00605.006,046.00DYear EndedMay 31 202144,538.0024,576.0019,962.003,114.009,911.0013,025.00262.0014.006,661.00934.005,727.00F37,403.0021,162.0016,241.003,592.009,534.0013,126.00HCommon SizedMay 31 2020 May 31 2022 May 31 202189.00139.002,887.00348.002,539.004.882.677.623.6410.5213.66-21.76-1,392.86J-0.15-35.225.5719.0816.1322.91-13.313.95-0.77194.38-89.93130.72168.39125.56LYear over Year ChangeMay 31 2022 May 31 20212,172.006551,517.007361,043.001,779.00N-57-195-10-3293197,135.003,414.003,721.00-478377-101173-1253,774.005863,188.00

A financial analysis method known as "horizontal analysis," often called "trend analysis," examines…

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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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