Question
Hypothetical balance sheets of Nike, Inc. are presented here. NIKE, INC. Condensed Balance Sheet May 31 ($ in millions) 2022 2021 Assets Current Assets $9,500
Hypothetical balance sheets ofNike, Inc.are presented here.
NIKE, INC.
Condensed Balance Sheet
May 31
($ in millions)
2022
2021
Assets
Current Assets
$9,500
$8,700
Property, plant, and equipment (net)
1,900
1,800
Other assets
1,450
1,600
Total assets
$12,850
$12,100
Liabilities and Stockholders' Equity
Current Liabilities
$3,178
$3,300
Long-term liabilities
1,241
1,290
Stockholders' equity
8,431
7,510
Total liabilities and stockholders' equity
$12,850
$12,100
(a)Prepare a horizontal analysis of the balance sheet data for Nike, using 2021 as a base.(If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.5%.)
NIKE, INC.
Condensed Balance Sheet
May 31
($ in millions)
2022
2021
Increase
(Decrease)
Percentage
Change
from 2016
Assets
Current Assets
$9,500
$8,700
$
enter a dollar amount
enter percentages rounded to 1 decimal place rounded to 1 decimal place
%
Property, plant, and equipment (net)
1,900
1,800
enter a dollar amount
enter percentages rounded to 1 decimal place rounded to 1 decimal place
%
Other assets
1,450
1,600
enter a dollar amount
enter percentages rounded to 1 decimal place rounded to 1 decimal place
%
Total assets
$12,850
$12,100
$
enter a dollar amount
enter percentages rounded to 1 decimal place rounded to 1 decimal place
%
Liabilities and Stockholders' Equity
Current Liabilities
$3,178
$3,300
$
enter a dollar amount
enter percentages rounded to 1 decimal place rounded to 1 decimal place
%
Long-term liabilities
1,241
1,290
enter a dollar amount
enter percentages rounded to 1 decimal place rounded to 1 decimal place
%
Stockholders' equity
8,431
7,510
enter a dollar amount
enter percentages rounded to 1 decimal place rounded to 1 decimal place
%
Total liabilities and stockholders' equity
$12,850
$12,100
$
enter a dollar amount
enter percentages rounded to 1 decimal place rounded to 1 decimal place
%
(b)Prepare a vertical analysis of the balance sheet data for Nike for 2022.
NIKE, INC.
Condensed Balance Sheet
choose the accounting period
For the Year Ended May 31, 2022
For the Month Ended May 31, 2022
May 31, 2022
$ (in millions)
Percent
Assets
Current Assets
$9,500
enter percentages rounded to 1 decimal place
%
Property, plant, and equipment (net)
1,900
enter percentages rounded to 1 decimal place
%
Other assets
1,450
enter percentages rounded to 1 decimal place
%
Total assets
$12,850
enter percentages rounded to 1 decimal place
%
Liabilities and Stockholders' Equity
Current Liabilities
$3,178
enter percentages rounded to 1 decimal place
%
Long-term Liabilities
1,241
enter percentages rounded to 1 decimal place
%
Stockholders' equity
8,431
enter percentages rounded to 1 decimal place
%
Total liabilities and stockholders' equity
$12,850
enter percentages rounded to 1 decimal place
%
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Fundamental Accounting Principles Volume I
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
16th Canadian edition
978-1260305821
