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ACC 561 Week 2 Individual WileyPlus Exercises
This work ACC 561 Week 2 Individual WileyPlus Exercises E13 5, E13 6 includes answers to these exercises:
1. Exercise E13-5
The comparative balance sheets of Nike, Inc. are presented here.
NIKE INC.
Comparative Balance Sheets
May 31
($ in millions)
Assets 2007 2006
Current assets $8,076 $7,346
Property, plant, and equipment (net) 1,678 1,658
Other assets 934 866
Total assets $10,688 $9,870
Liabilities and Stockholders' Equity
Current liabilities $2,584 $2,612
Long-term liabilities 1,079 973
Stockholders' equity 7,025 6,285
Total liabilities and stockholders' equity $10,688 $9,870
Complete the horizontal analysis of the balance sheet data for Nike using 2006 as a base. (If amount decreases, use either a negative sign preceding the number, e.g. -45 or parenthesis, e.g. (45). Round all percentages to 1 decimal place, e.g. 12.5.)
2. Exercise E13-6
Here are the comparative income statements of Winfrey Corporation.
WINFREY CORPORATION
Comparative Income Statements
For the Years Ended December 31
2010 2009
Net sales $598,000 $520,000
Cost of goods sold 477,000 450,000
Gross profit $121,000 $70,000
Operating expenses 80,000 45,000
Net income $41,000 $25,000
Complete the horizontal analysis of the income statement data for Winfrey Corporation using 2009 as a base. (Round all percentages to 1 decimal place, e.g. 12.5.)
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