Question 2 View Policies Current Attempt in Progress Suppose the comparative balance sheets of Kingbird, Inc. are presented here. KINGBIRD, INC. Condensed Balance Sheet May 31 ($ in millions) 2017 2016 Assets Current Assets Property, plant, and equipment (net) Other assets $9,800 1,910 $8,720 1,820 1,540 1,670 $13,250 $12,210 Total assets Liabilities and Stockholders' Equity Current Liabilities Long-term liabilities Stockholders' equity Total liabilities and stockholders' equity $3,150 $3,370 1,280 1,310 8,820 7,530 $13,250 $12.210 (a) Prepare a horizontal analysis of the balance sheet data for Kingbird, using 2016 as a base. (if amount and percentage are a decrease show the numbers as negative, e.g.-55,000.-20% or (55,000).(20%). Round percentages to 1 decimal place. es. 12.1%) KINGBIRD, INC. Condensed Balance Sheet (a) Prepare a horizontal analysis of the balance sheet data for Kingbird, using 2016 as a base. Of amount and percentage are a decrease show the numbers as negative, es -55,000.-20% or (55,000). (20%). Round percentages to 1 decimal place, es 12.1%) KINGBIRD, INC. Condensed Balance Sheet May 31 ($ In millions) 2017 2016 Increase (Decrease) Percentage Change from 2016 Assets Current Assets $ $9.800 1.910 $8,720 1.820 Property, plant, and equipment (net) 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 7530 Total liabilities and stockholders' equity $13,250 $12,210 $ (b) Prepare a vertical analysis of the balance sheet data for Kingbird for 2017 KINGBIRD, INC. Condensed Balance Sheet $ (in millions) Percent Assets Current Assets $9,800 (b) Prepare a vertical analysis of the balance sheet data for Kingbird for 2017 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 $13250 Liabilities and Stockholders' Equity Current Liabilities $3.150 Long-term Liabilities 1.280 Stockholders' equity 8,820 Total liabilities and stockholders' equity $13,250 e Textbook and Media Attempts: 0 of 5 used Save for later Submit Answer Send to Gradebook