Problem
Locate the annual report (10K) for Nike (ticker symbol: NKE) for the years ended May 31, 2022 and 2021. Find the company's financial statements for the years ended 2022 and 2021 (should be located in Part 2: Item 8). Using the information located in the financial statements, calculate the internal and sustainable growth rates. Consider the following: what is the growth rates using the end of year assets/equity values? What is the growth rates using the beginning of the year assets/equity values? What is your best estimate of the growth rate?