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NIKE INC (Reformulation)

Reformulate the income statement of ABC company for the year ended May 31, 2009 based on the following information: 1) Sales revenue was 19,176.1 million Taka with a cost of goods sold of 10,571.7 million Taka, resulting in a gross profit of 8,604.4 million Taka. 2) Expenses included administrative expenses of 3,798.3 million Taka, selling expenses of 2,351.3 million Taka, restructuring expenses of 195 million Taka, goodwill impairment of 199.3 million Taka, and intangible and other assets impairment of 202 million Taka. 3) Other items included interest income of 49.

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257 views3 pages

NIKE INC (Reformulation)

Reformulate the income statement of ABC company for the year ended May 31, 2009 based on the following information: 1) Sales revenue was 19,176.1 million Taka with a cost of goods sold of 10,571.7 million Taka, resulting in a gross profit of 8,604.4 million Taka. 2) Expenses included administrative expenses of 3,798.3 million Taka, selling expenses of 2,351.3 million Taka, restructuring expenses of 195 million Taka, goodwill impairment of 199.3 million Taka, and intangible and other assets impairment of 202 million Taka. 3) Other items included interest income of 49.

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apuiftekhar
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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NIKE, INC.

Consolidated
Balance Sheets (in
millions)
Reformulation of Income Statements
Reformulate the income statement of ABC company based on the following
information:
ABC Company
Income Statement
For the year ended on 31 may, 2009
Particulars Taka (in million)
Sales revenue 19,176.1
Cost of goods sold (10,571.7)
Gross profit 8,604.4
Administrative expenses (3,798.3)
Selling expenses (2,351.3)
Restructuring expenses (195.0)
Goodwill impairment (199.3)
Intangible and others assets impairment (202.0)
Interest Income (expenses), net 9.5
Other income (expenses), net 88.5
EBT 1,956.5
Income Tax (469.8)
Net income 1,486.7
Notes:
1) Interest income: 49.7 million and interest expenses :40.2 Taka.
2) Taxes have been allocated using federal and state statutory rates, 35
percent for the federal rate plus the state l .3 percent rate.
3) Other items:
Particulars Taka (in million)
Net translation gains and losses (335.3)
Net hedging gains and losses 451.4
Effect of stock option exercise 126.4

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