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Hypothetical balance sheets of Nike, Inc. are presented here. begin{tabular}{|c|c|c|} hline multicolumn{3}{|c|}{begin{tabular}{c} NIKE, INC. Condensed Balance Sheet May 31 ( $ in

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Hypothetical balance sheets of Nike, Inc. are presented here. \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{\begin{tabular}{c} NIKE, INC. \\ Condensed Balance Sheet \\ May 31 \\ ( $ in millions) \end{tabular}} \\ \hline & 2022 & 2021 \\ \hline \multicolumn{3}{|l|}{ Assets } \\ \hline Current Assets & $9,500 & $8,700 \\ \hline Property, plant, and equipment (net) & 1,900 & 1,800 \\ \hline Other assets & 1,450 & 1,600 \\ \hline Total assets & $12,850 & $12,100 \\ \hline \multicolumn{3}{|l|}{ Liabilities and Stockholders' Equity } \\ \hline Current Liabilities & $3,178 & $3,300 \\ \hline Long-term liabilities & 1,241 & 1,290 \\ \hline Stockholders' equity & 8,431 & 7,510 \\ \hline Total liabilities and stockholders' equity & $12,850 & $12,100 \\ \hline \end{tabular} (a) Prepare a horizontal analysis of the balance sheet data for Nike, using 2021 as a base. (If amount and percentage are a decrease show (b) Prepare a vertical analysis of the balance sheet data for Nike for 2022. \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{\begin{tabular}{c} NIKE, INC. \\ Condensed Balance Sheet \end{tabular}} \\ \hline & $ (in millions) & Percent & \\ \hline \multicolumn{4}{|l|}{ Assets } \\ \hline Current Assets & $9,500 & & % \\ \hline Property, plant, and equipment (net) & 1,900 & & % \\ \hline Other assets & 1,450 & & % \\ \hline Total assets & $12,850 & & % \\ \hline \multicolumn{4}{|l|}{ Liabilities and Stockholders' Equity } \\ \hline Current Liabilities & $3,178 & & % \\ \hline Long-term Liabilities & 1,241 & & % \\ \hline Stockholders' equity & 8,431 & & % \\ \hline Total liabilities and stockholders' equity & $12,850 & & % \\ \hline \end{tabular}

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