Exercise 13-5 Suppose the comparive balance sheets of Marin Inc. are presented here. MARIN INC. Condensed Balance Sheet May 31 ($ in millions) 2016 2017 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 $9,880 $8,810 1,830 1,700 $13,400 $12,340 1,940 1,580 $3,190 $3,300 1,290 7,750 13,400 $12,340 1,220 8,990 (a) Prepare a horizontal analysis of the balance sheet data for Marin, using 2016 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g. 55,000,-20% or (55,000), (2000). Round percentages to 1 decimal place, eg. 12.1%.) MARIN INC. Condensed Balance Sheet May 31 ($ in millions) Percentage Change from 2016 Increase (Decrease) 2017 2016 Assets $9,880 $8,810 1,830 1,700 Current Assets Property, plant, and equipment (net) 1,940 Other assets 1,580 $13,400 $12,340 Total assets Liabilities and Stockholders' Equity Current Liabilities $3,190 $3,300 1,290 7,750 $13,400 $12,340 Long-term liabilities Stockholders' equity Total liabilities and stockholders' equity 1,220 8,990 (b) Prepare a vertical analysis of the balance sheet data for Marin for 2017 MARIN INC. Condensed Balance Sheet $ (in millions) Percent Assets $9,880 1,940 1,580 $13,400 Current Assets Property, plant, and equipment (net) Other assets Total assets Liabilities and Stockholders' Equity $3,190 Current Liabilities Long-term Liabilities 1,220 Stockholders' equity 8,990 $13,400 Total liabilities and stockholders' equity