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27 February, 23:36

In its fiscal 2018 annual report, Nike, Inc. reported cash of $4,000 million at the beginning of the year. The statement of cash flows reports the following (in millions) : Net cash from operating activities $3,027 Net cash from investing activities (1,067) Net cash from financing activities (940) What was the balance in Nike's cash account at the end of fiscal 2018? A) $3,027 million B) $1,020 million C) $5,020 million D) $4,350million E) None of the above

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  1. 28 February, 00:54
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    Option C, $5,020 million is correct

    Explanation:

    The below is the statement of cash flow for Nike Inc 2018:

    Net cash from operating activities $3,027

    Net cash from investing activities ($1,067)

    Net cash from financing activities ($940)

    Net increase in cash and cash equivalent in 2018 $1,020

    Beginning Cash and cash equivalent $4,000'

    Balance in cash account at the end of fiscal year $5,020

    The correct option then is C.$5,020 million.

    Option A is wrong because it only takes into consideration net cash from operations, option B is also as it considered only the increase in cash in the year without the opening balance of cash, while option D and E are obviously irrelevant
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