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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

Respuesta :

Answer:

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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