Exercise 13-5 Suppose the comparative balance sheets of Teal Mountain Inc. are presented here. TEAL MOUNTAIN INC. Condensed Balance Sheet May 31 ($ in millions) 2019 2018 Assets Current Assets Property, plant, and equipment (net) $9,510 1,960 1,580 $13,050 $8,770 1,800 1,790 $12,360 Other assets Total assets Liabilities and Stockholders' Equity Current Liabilities Long-term liabilities Stockholders' equity Total liabilities and stockholders' equity $3,300 1,260 8,490 $3,400 1,340 7,620 $13,050 $12,360 (a) Prepare a horizontal analysis of the balance sheet data for Teal Mountain, using 2018 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.) TEAL MOUNTAIN INC. Condensed Balance Sheet May 31 ($ in millions) Increase (Decrease) Percentage Change from 2013 2019 2018 Assets Current Assets $9,510 $8,770 $ Property, plant, and equipment (net) 1,960 1,800 Other assets 1,580 1,790 Total assets $13,050 $12,360 Liabilities and Stockholders' Equity Current Liabilities $ $3,300 1,260 $3,400 1,340 Long-term liabilities Stockholders' equity 8,490 7,620 Total liabilities and stockholders' equity $13,050 $12,360 (b) Prepare a vertical analysis of the balance sheet data for Nike for 2019. TEAL MOUNTAIN INC. Condensed Balance Sheet $ (in millions) Percent Assets Current Assets $9,510 Property, plant, and equipment (net) 1,960 Other assets 1,580 Total assets $13,050 Liabilities and Stockholders' Equity Current Liabilities $3,300 Long-term Liabilities 1,260 Stockholders' equity 8,490 Total liabilities and stockholders' equity $13,050 Click if you would like to Show Work for this question: Open Show Work