Practice Exercise 02 Suppose the comparative balance sheets of Nike, Inc. are presented here. Nike, Inc. Condensed Balance Sheet May 31 ($ in millions) 2020 2019 $9,770 1,820 1,600 $13,190 $8,770 1,800 1,740 $12,310 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 $3,340 $3,170 1,350 8,670 1,380 7,590 $13,190 $12,310 (a) Prepare a horizontal analysis of the balance sheet data for Nike, using 2019 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.) NIKE, INC. Condensed Balance Sheet May 31 ($ in millions) Percentage Change from 2019 2020 Increase (Decrease) 2019 Assets Current Assets 59,770 $8,770 % Property, plant, and equipment (net) 1,820 1,800 % Other assets 1.600 1,740 960 Total assets $13,190 $12,310 96 Liabilities and Stockholders' Equity Current Liabilities $3,170 $3,340 Long-term liabilities 1,350 1,380 % Stockholders' equity 8,670 7,590 % Total abilities and stockholders' equity $13,190 $12,310 (b) Prepare a vertical analysis of the balance sheet data for Nike for 2020. NIKE, INC. Condensed Balance Sheet $ (in millions) Percent Assets Current Assets $9,770 % Property, plant, and equipment (net) 1,820 % Other assets 1,600 % Total assets $13,190 % Liabilities and Stockholders' Equity Current Liabilities $3,170 % Long-term Liabilities 1,350 % Stockholders' equity 8,670 % Total liabilities and stockholders' equity $13,190 %