Answer:
.
Step-by-step explanation:
We have been given that Nike reported a profit of $28,951,000 for one quarter (3 months), a profit of $20,570,000 for the second quarter, a profit of $15,342,000 the third quarter, and a loss of $48,037,000 for the fourth quarter.
To find the net profit for year, we will subtract the loss in the 4th quarter from the sum of profit in 3 quarters as:
Therefore, the net profit for the year was .