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prepare a balance sheet for Kingbird using 2019 as a base. Suppose the comparative balance sheets of Kingbird, Inc. are presented here. 2019 KINGBIRD, INC.
prepare a balance sheet for Kingbird using 2019 as a base.
Suppose the comparative balance sheets of Kingbird, Inc. are presented here. 2019 KINGBIRD, INC. Condensed Balance Sheet May 31 ($ in millions) 2020 Assets Current Assets $9,800 Property, plant, and equipment (net) 1,910 Other assets 1,540 Total assets $13,250 Liabilities and Stockholders' Equity Current Liabilities $3,150 Long-term liabilities 1.280 Stockholders' equity 8,820 Total liabilities and stockholders' equity $13,250 $8,720 1,820 1,670 $12,210 $3,370 1.310 7,530 $12,210 (a) Prepare a horizontal analysis of the balance sheet data for Kingbird, using 2019 as a base. (If amount and percentage are a decrease show the numbers as negative, eg.-55,000, -20% or (55,000). (20%). Round percentages to 1 decimal place.eg 12.1%.) KINGBIRD, INC. Condensed Balance Sheet May 31 ($ in millions) Percentage Change from 2019 2020 Increase (Decrease) 2019 Assets Current Assets $9,800 $8,720 $ % Property, plant, and equipment (net) 1,910 1,820 % Other assets 1,540 1,670 % Total assets $13,250 $12,210 $ % Liabilities and Stockholders' Equity Current Liabilities $3,150 $3,370 $ % Long term liabilities 1,280 1,310 % Stockholders' equity 8,820 7,530 % Total liabilities and stockholders' equity $13,250 $12,210 $ % (b) Prepare a vertical analysis of the balance sheet data for Nike for 2020. KINGBIRD, INC. Condensed Balance Sheet $ (in millions) Percent Assets Current Assets $9.800 % Property, plant, and equipment (net) 1,910 % Other assets 1,540 % Total assets $13,250 % KINGBIRD, INC. Condensed Balance Sheet $ (in millions) Percent Assets Current Assets $9,800 % Property, plant, and equipment (net) 1,910 % Other assets 1,540 % Total assets $13,250 % Liabilities and Stockholders' Equity Current Liabilities $3,150 % Long-term Liabilities 1,280 % Stockholders' equity 8.820 % Total liabilities and stockholders' equity $13,250Step by Step Solution
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