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%.)

NIKE, INC. Condensed Balance Sheet May 31 ($ in millions)
		2022		2021		Increase (Decrease)		Percentage Change from 2021
Assets
Current Assets		$9,150		$8,284		$enter a dollar amount		enter percentages rounded to 1 decimal place	%
Property, plant, and equipment (net)		1,875		1,803		enter a dollar amount		enter percentages rounded to 1 decimal place	%
Other assets		1,475		1,626		enter a dollar amount		enter percentages rounded to 1 decimal place	%
Total assets		$12,500		$11,713		$enter a total amount for this part of the balance sheet		enter percentages rounded to 1 decimal place	%
Liabilities and Stockholders' Equity
Current Liabilities		$3,125		$3,171		$enter a dollar amount		enter percentages rounded to 1 decimal place	%
Long-term liabilities		1,225		1,242		enter a dollar amount		enter percentages rounded to 1 decimal place	%
Stockholders equity		8,150		7,300		enter a dollar amount		enter percentages rounded to 1 decimal place	%
Total liabilities and stockholders' equity		$12,500		$11,713		$enter a total amount for this part of the balance sheet		enter percentages rounded to 1 decimal place	%