Exercise 18-05 Suppose the comparative balance sheets of Nike, Inc. are presented here. Nike, Inc. Comparative Balance Sheets May 31 ($ in millions) Assets Current assets Property, plant, and equipment (net) Other assets Total assets 2020 2019 $ 10,282 $ 9,700 1,768 1,700 1,568 $13,618 1,600 $13,000 Liabilities and Stockholders' Equity Current liabilities $ 3,069 $ 3,100 Long-term liabilities Stockholders' equity Total liabilities and stockholders' equity 1,410 9,139 $13,618 1,500 8,400 $13,000 (a) Prepare a horizontal analysis of the balance sheet data for Nike, using 2019 as a base. (Show the amount of increase or decrease as well.) (Enter amounts in millions. Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.) Assets NIKE, INC. Condensed Balance Sheet ($ in millions) 2020 2019 Increase (Decrease) Percentage Change from 2019 Current assets $10,282 $9,700 $ % Property, plant & equipment (net) 1,768 1,700 % Other assets 1,568 1,600 % Total Assets $13,618 $13,000 % Liabilities and Stockholders' Equity Current liabilities $3,069 $3,100 % Long-term liabilities 1,410 1,500 % Stockholders' equity 9.139 8.400 Stockholders' equity 9,139 8,400 Total liabilities and Stockholders' Equity $13,618 $13,000 (b) % % Prepare a vertical analysis of the balance sheet data for Nike for 2020. (Round percentages to 1 decimal place, e.g. 12.3%.) NIKE, INC. Assets Current assets Condensed Balance Sheet $ (in millions) Percent $10,282 % Property, plant, and equipment (net) 1,768 % Other assets 1,568 % Total Assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Stockholders' equity Total liabilities and Stockholders' Equity $13,618 % $3,069 % 1,410 % 9,139 % $13,618 Click if you would like to Show Work for this question: Open Show Work %