Exercise 13-05 Hypothetical balance sheets of Nike, Inc. are presented here. NIKE, INC. Condensed Balance Sheet May 31 ($ in millions) 2022 2021 Assets Current Assets Property, plant, and equipment (net) Other assets Total assets Liabilities and Stockholders' Equity Current Liabilities Long-term liabilities Stockholders' equity $9,600 1,810 1,580 $12,990 $8,790 1,800 1,710 $12,300 $3,170 1,230 8,590 $3,300 1,390 7,610 Total liabilities and stockholders' equity $ 12,990 $12,300 (a) Prepare a horizontal analysis of the balance sheet data for Nike, using 2021 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.5%) NIKE, INC. Condensed Balance Sheet May 31 ($ in millions) 2022 2021 Increase (Decrease) Percentage Change from 2016 Assets Current Assets 59,600 $8,790 Property, plant, and equipment (net) 1,810 1,800 Other assets 1,580 1,710 Total assets $12,990 $12,300 Liabilities and Stockholders' Equity Current Liabilities $3,170 $3,300 Long-term liabilities 1,230 1,390 Stockholders' equity 8,590 7,610 Total liabilities and stockholders' equity $12,990 $12,300 (b) Prepare a vertical analysis of the balance sheet data for Nike for 2022. NIKE, INC. Condensed Balance Sheet $(in millions Percent Assets Current Assets $9,600 Property, plant, and equipment (net) 1,810 Other assets 1,580 Total assets $12,990 Liabilities and Stockholders' Equity Current Liabilities $3,170 Long-term Liabilities 1,230 Stockholders' equity 8,590 Total liabilities and stockholders' equity $12,990 Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT