Question 3

Suppose the comparative balance sheets of Nike, Inc. are as follows.

NIKE, INC. Condensed Balance Sheet May 31 ($ in millions)
		2022		2021
Assets
Current Assets		$9,150		$8,284
Property, plant, and equipment (net)		1,875		1,803
Other assets		1,475		1,626
Total assets		$12,500		$11,713
Liabilities and Stockholders' Equity
Current Liabilities		$3,125		$3,171
Long-term liabilities		1,225		1,242
Stockholders equity		8,150		7,300
Total liabilities and stockholders' equity		$12,500		$11,713

(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. 12.1%.)

(b) Prepare a vertical analysis of the balance sheet data for Nike for 2022.

NIKE, INC. Condensed Balance Sheet choose the accounting period May 31, 2022For the Month Ended May 31, 2022For the Year Ended May 31, 2022
		$ (in millions)		Percent
Assets
Current Assets		$9,150			%
Property, plant, and equipment (net)		1,875			%
Other assets		1,475			%
Total assets		$12,500			%
Liabilities and Stockholders' Equity
Current Liabilities		$3,125			%
Long-term Liabilities		1,225			%
Stockholders equity		8,150			%
Total liabilities and stockholders' equity		$12,500			%