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Hypothetical balance sheets of Nike, Inc. are presented here. NIKE, INC. Condensed Balance Sheet May 31 ($ in millions) 2022 2021 Assets Current Assets $9,510

Hypothetical balance sheets of Nike, Inc. are presented here.

NIKE, INC. Condensed Balance Sheet May 31 ($ in millions)

2022

2021

Assets

Current Assets

$9,510

$8,770

Property, plant, and equipment (net)

1,961

1,800

Other assets

1,580

1,790

Total assets

$13,051

$12,360

Liabilities and Stockholders' Equity

Current Liabilities

$3,228

$3,400

Long-term liabilities

1,261

1,340

Stockholders equity

8,562

7,620

Total liabilities and stockholders' equity

$13,051

$12,360

(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 the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.5%.)

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