Exercise 13-5 Suppose the comparative balance sheets of Sage Hill Inc., are presented here. SAGE HILL INC. Condensed Balance Sheet May 31 ($ in millions) 2019 2018 $9,680 2,040 1,490 $13,210 $8,760 1,830 1,640 $12,230 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 $3,160 1,340 8,710 $3,310 1,370 7,550 $13,210 $12,230 (a) Prepare a horizontal analysis of the balance sheet data for Sage Hill, using 2018 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.) SAGE HILL INC. Condensed Balance Sheet May 31 ($ in millions) Percentage Change from 2013 2019 Increase (Decrease) 2018 Assets Current Assets $9,680 $8,760 $ Property, plant, and equipment (net) 2,040 1,830 Other assets 1,490 1,640 Total assets $13,210 $12,230 Liabilities and Stockholders' Equity Current Liabilities $3,160 $3,310 5 Long-term liabilities 1,340 1,370 Stockholders' equity 8,710 7,550 Total liabilities and stockholders' equity $13,210 $12,230 (b) Prepare a vertical analysis of the balance sheet data for Nike for 2019. SAGE HILL INC. Condensed Balance Sheet $ (in millions) Percent Assets Current Assets $9,680 Property, plant, and equipment (net) 2,040 Other assets 1,490 Total assets $13,210 Liabilities and Stockholders' Equity Current Liabilities $3,160 Long-term Liabilities 1,340 Stockholders' equity 8,710 Total liabilities and stockholders' equity $13,210