* Exercise 13-05 a-b Suppose the comparative balance sheets of Larkspur, Inc. are presented here. LARKSPUR, INC. Condensed Balance Sheet May 31 ($ in millions) 2020 2019 $9,640 2,010 1,450 $13,100 $8,720 1,840 1,730 $12,290 Assets Current Assets Property, plant, and equipment (net) Other assets Total assets Liabilities and Stockholders' Equity Current Liabilities Long-term liabilities Stockholders' equity Total liabilities and stockholders' equity $3,250 1,290 8,560 $13,100 $3,340 1,340 7,610 $12,290 (a) Prepare a horizontal analysis of the balance sheet data for Larkspur, using 2019 as a base. (I (20%). Round percentages to 1 decimal place, e.g. 12.1%.) (a) Prepare a horizontal analysis of the balance sheet data for Larkspur, using 2019 as a base. (If an ount and percentage are a decrease show the numbers as negative, eg. 55,000.-2096 or (55,000), (2096). Round percentages to 1 decimal place, e.o. 12.190.) LARKSPUR, INC. Condensed Balance Sheet May 31 ($ in millions) Percentage Change from 2019 2020 Increase (Decrease 2019 Assets Current Assets $9,640 $11,720 Property, plant, and equipment (net) 2,010 1,840 Other sets 1.450 1,730 Total assets $13,100 $12,290 Liabilities and stockholders' Equity Current Liabilities $3,250 $3,340 Long-term liabilities 1.290 1,340 Stockholders uity 8,560 7.610 Total abilities and stockholders equity $13.100 $12,290 (b) Prepare a vertical analysis of the balance sheet data for Nike for 2020, (b) Prepare a vertical analysis of the balance sheet data for Nike for 2020. LARKSPUR, INC. Condensed Balance Sheet $ (in millions) Percent Assets Current Assets $9,640 Property, plant, and equipment (net) 2,010 Other assets 1,450 Total assets $13,100 Liabilities and Stockholders' Equity Current Liabilities $3,250 Long-term Liabilities 1,290 Stockholders' equity 8,560 Total liabilities and stockholders' equity $13,100