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Accounting 301
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Our companies have a different fiscal year end: The fiscal year for Reebok International Ltd., ends on December 31. The fiscal year for Nike Inc., ends on May 31. The fiscal year for Fila Holdings SPA ends on December 31. 2. Common-size Income Statements (enclosed) 3. Common-size Balance Sheet (enclosed) 4. The following are the approximate income tax rates for the last three years for each company: (Income Tax Rate = Income Tax / Income before Taxes) Reebok International Ltd. (in thousands) Year 2001 Income tax rate = 48,300 / 155,806 = 31.00% Year 2000 Income tax rate = 49,000 / 135,805 = 36.08% Year 1999 Income tax rate = 10,093 / 28,038 = 36.00% NIKE Inc. (in millions) Year 2002 Income tax rate = 349 / 1017.3 = 34.31% Year 2001 Income tax rate = 331.7 / 921.4 = 36.00% Year 2000 Income tax rate = 340.1 / 919.2 = 37.00% Fila Holdings, SPA (in euros) Year 2001 Income tax rate = 27,010 / 112,707 = 24% Year 2000 Income tax rate = 3,323 / 68,262 = 4.87% Year 1999 Income tax rate = 13,596 / 45,129 = 30% We have noticed that even though the income for Nike, Inc.
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Paper Information
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Title: Accounting 301
Words: 976
Rating: None
Pages: 3.9
submitted by: imjuniar
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