Starting with your identified 2019 level of revenue, you expect that revenue will increase by 10% in 2020. You anticipate annual revenue growth will slow by 1% per year to the long-run industry growth rate of 5% by 2025. • You expect EBIT to be 12.5% of sales each year. • You expect any increase in net working capital requirements each year to be 10% of any year-on-year annual increases in revenue. • You expect capital expenditures to equal depreciation expenses in each year. • Nike’s Tax rate is 20%. • Nike’s weighted average cost of capital (WACC) is 9%.

Case 1 - Suppose you believe Nike's initial revenue growth rate in 2020 will be between 8% and 14% (with growth slowing linearly to 5% by year 2025). What range of prices for Nike stock is consistent with these forecasts? Case 2 – Beginning again with your base case assumptions, suppose you believe Nike's initial EBIT margin (as a % of revenue) will be between 9% and 14% of revenue. What range of prices for Nike stock is consistent with these forecasts? Case 3 – Beginning again with your base case assumptions, you observe that similar companies in the apparel industry have WACCs ranging from 7.5% to 10%. What range of prices for Nike stock is consistent with these forecasts? Case 4 - What range of stock prices is consistent if you vary the estimates in cases 1 – 3 simultaneously? Put another way, what is the range of stock prices you might expect if the worst/best case scenarios occur from each of the previous three cases simultaneously.

7) Determine a terminal value for​ Nike’s FCF from 2026 and beyond​ (value expressed in millions of 2025​ dollars).

The terminal​ value, in 2025​ dollars, of​ Nike's free cash flows from 2026 onward​ is:____ million dollars.​ (please round your answer to ONE decimal​ point)

8) Determine​ Nike’s Enterprise Value​ (as of the end of​ FY2019)

​Nike's Enterprise​ Value, as of the end of​ FY2019, is: $____million dollars. ​ (please round your answer to ONE decimal​ place)

Suppose a monopolist sells its good to three people. Each person can only purchase one good. The first person is willing to pay $20 for the good, the second person is willing to pay $18, and the third is willing to pay $16. These three people make up the entire market for this monopolist. If the firm can perfectly price discriminate, how much revenue can it earn from selling 3 units?

Which of the following is true of the relationship between price and marginal cost under monopolistic competition?

On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances:

During January 2021, the following transactions occur:

The following information is available on January 31.

• Rent for the month of January has expired.
• Supplies remaining at the end of January total $2,900.
• By the end of January, $3,275 of services has been provided to customers who paid in advance on January 17.
• Unpaid salaries at the end of January are $5,730.

Solve Service Revenue, Retained Earning for Jan 31 and retained earning for jan 31. Create income statemenent and balance sheet

An unstable nucleus of mass 1.7 ✕ 10⁻²⁶ kg, initially at rest at the origin of a coordinate system, disintegrates into three particles. One particle, having a mass of

m₁ = 1.8 ✕ 10⁻²⁷ kg,

moves in the positive y-direction with speed

v₁ = 5.4 ✕ 10⁶ m/s.

Another particle, of mass

m₂ = 8.0 ✕ 10⁻²⁷ kg,

moves in the positive x-direction with speed

v₂ = 3.2 ✕ 10⁶ m/s.

Find the magnitude and direction of the velocity of the third particle. (Assume that the +x-axis is to the right and the +y-axis is up along the page.)

For the stress data given below with the nearest error of 1:

27-17-11-24-36-13-29-22-18

23-30-12-46-17-32-48-11-18

18-32-26-24-38-24-15-13-13

18-21-27-20-16-15-37-19-19

a) Construct a frequency distribution table.

b) Construct the three types of statistical graphs.

c) Determine the (1) Mean, (2) Median, (3) Mode, (4) Range,

Variance, and (6) Standard Deviation.

An unstable nucleus of mass 1.7 ✕ 10−26 kg, initially at rest at the origin of a coordinate system, disintegrates into three particles. One particle, having a mass of m1 = 1.0 ✕ 10−27 kg, moves in the positive y-direction with speed v1 = 5.4 ✕ 106 m/s. Another particle, of mass m2 = 7.0 ✕ 10−27 kg, moves in the positive x-direction with speed v2 = 3.6 ✕ 106 m/s. Find the magnitude and direction of the velocity of the third particle. (Assume that the +x-axis is to the right and the +y-axis is up along the page.)

A proton moving horizontally at a speed of 2.88x10^5 m/s enters a region of space between two

square metal plates of side length 8.77 mm. The proton's path is deflected an angle of 12º upward. Protons have a mass of 1.67x10^-27 kg.

a) Determine the electric field between the plates.

b)Determine the amount and sign of electric charge on each plate.

The comparative balance sheets for 2018 and 2017 and the income statement for 2018 are given below for Arduous Company. Additional information from Arduous’s accounting records is provided also.

Additional information from the accounting records:

1. Investment revenue includes Arduous Company’s $14 million share of the net income of Demur Company, an equity method investee.
2. Treasury bills were sold during 2018 at a gain of $2 million. Arduous Company classifies its investments in Treasury bills as cash equivalents.
3. A machine originally costing $86 million that was one-half depreciated was rendered unusable by a flood. Most major components of the machine were unharmed and were sold for $15 million.
4. Temporary differences between pretax accounting income and taxable income caused the deferred income tax liability to increase by $11 million.
5. The preferred stock of Tory Corporation was purchased for $33 million as a long-term investment.
6. Land costing $54 million was acquired by issuing $27 million cash and a 15%, four-year, $27 million note payable to the seller.
7. The right to use a building was acquired with a 15-year lease agreement; present value of lease payments, $90 million. Annual lease payments of $7 million are paid at the beginning of each year starting January 1, 2018.
8. $68 million of bonds were retired at maturity.
9. In February, Arduous issued a stock dividend (7.2 million shares). The market price of the $5 par value common stock was $7.50 per share at that time. Also the company paid a cash dividend.
10. In April, 1 million shares of common stock were repurchased as treasury stock at a cost of $17.00 million.

Required:
Prepare the statement of cash flows of Arduous Company for the year ended December 31, 2018. Present cash flows from operating activities by the direct method. (Do not round your intermediate calculations. Enter your answers in millions (i.e., 10,000,000 should be entered as 10.). Amounts to be deducted should be indicated with a minus sign.)

The comparative balance sheets for 2018 and 2017 and the income statement for 2018 are given below for Arduous Company. Additional information from Arduous’s accounting records is provided also.

Additional information from the accounting records:

1. Investment revenue includes Arduous Company’s $27 million share of the net income of Demur Company, an equity method investee.
2. Treasury bills were sold during 2018 at a gain of $3 million. Arduous Company classifies its investments in Treasury bills as cash equivalents.
3. A machine originally costing $110 million that was one-half depreciated was rendered unusable by a flood. Most major components of the machine were unharmed and were sold for $22 million.
4. Temporary differences between pretax accounting income and taxable income caused the deferred income tax liability to increase by $23 million.
5. The preferred stock of Tory Corporation was purchased for $45 million as a long-term investment.
6. Land costing $66 million was acquired by issuing $33 million cash and a 15%, four-year, $33 million note payable to the seller.
7. The right to use a building was acquired with a 15-year lease agreement; present value of lease payments, $102 million. Annual lease payments of $7 million are paid at the beginning of each year starting January 1, 2018.
8. $80 million of bonds were retired at maturity.
9. In February, Arduous issued a stock dividend (12.0 million shares). The market price of the $5 par value common stock was $7.50 per share at that time. Also the company paid a cash dividend.
10. In April, 1 million shares of common stock were repurchased as treasury stock at a cost of $29.00 million.

Required:
Prepare the statement of cash flows of Arduous Company for the year ended December 31, 2018. Present cash flows from operating activities by the direct method. (Do not round your intermediate calculations. Enter your answers in millions (i.e., 10,000,000 should be entered as 10.). Amounts to be deducted should be indicated with a minus sign.)