Exercise 14-5 Suppose the comparative balance sheets of Nike, Inc. are presented here. Nike, Inc. Comparative Balance Sheets May 31 (s in millions) 2020 2019 $ 8,798 2,006 1,568 $12,372 $ 8,300 1,700 1,600 $11,600 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 $ 3,136 1,188 8,048 $12,372 $ 3,200 1,200 7,200 $11,600 (a) Prepare a horizontal analysis of the balance sheet data for Nike, using 2019 as a base. (Show the amount of increase or decrease as well.) (Enter amounts in millions. Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.) NIKE, INC. Condensed Balance Sheet ($ in millions) 2020 2019 Increase (Decrease) Percentage Change from 2019 Assets Current assets $8,798 $8,300 % Property, plant & equipment (net) 2,006 1,700 Other assets 1,568 1,600 % Total Assets $12,372 $11,600 % Liabilities and Stockholders' Equity Current liabilities $3,136 $3,200 $ % Long-term liabilities 1,188 1,200 % Stockholders' equity 8,048 7,200 % Total liabilities and Stockholders' Equity $12,372 $11,600 $ (b) Prepare vertical analysis of the balance sheet data for Nike for 2020. (Round percentages to 1 decimal place, e.g. 12.3%.) NIKE, INC. Condensed Balance Sheet $ (in millions) Percent Assets Current assets $8,798 % Property, plant, and equipment (net) 2,006 % Other assets 1,568 % Total Assets $12,372 % Liabilities and Stockholders' Equity Current liabilities $3,136 % Long-term liabilities 1,188 % Stockholders' equity 8,048 % Total liabilities and Stockholders' Equity $12,372