Nike's Net Income Was $780,000; Its Net Assets Were $5,200,000;

question 190

Short Answer

Nike's net income was $780,000; its net assets were $5,200,000; and its net sales were $9,000,000.Calculate its profit margin ratio.

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Definitions:

FASB

The Financial Accounting Standards Board, an organization responsible for establishing and improving financial accounting and reporting standards in the U.S.

Managerial Accounting

The branch of accounting that uses both historical and estimated data in providing information that management uses in conducting daily operations, in planning future operations, and in developing overall business strategies.

Strategic Decisions

Choice made by an organization's top management on long-term goals and policies, usually involving resources allocation and efforts to achieve competitive advantage.

Externally Imposed Benchmarks

Standards or measures of performance that are set by external organizations or bodies, which a company must meet or comply with.