Exercise 13-5 Suppose the comparative balance sheets of Kingbird, Inc. are presented here Condensed Balance Sheet May 31 ($ in millions) 2017 2016 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 $9,500$8,700 1,800 1,600 $12,850 $12,100 1,900 1,450 $3,150 $3,300 1,290 7,510 $12,850 $12,100 1,200 8,500 (a) Prepare a horizontal analysis of the balance sheet data for Kingbird, using 2016 as a base. (If amount and percentage are a d 12.1%.) KINGBIRD, INC. Condensed Balance Sheet May 31 ($ in millions) Increase (Decrease) Percentage Change from 2016 2017 2016 Assets Current Assets Property, plant, and equipment (net) Other assets Total assets $9,500$8,700 1,800 1,600 1,900 1,450 $12,850$12,100 s Liabilities and Stockholders' Equity Current Liabilities Long-term liabilities Stockholders' equity $3,150 $3,300 1,290 7,510 1,200 8,500