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

$$9,568$

$$8,650$

Property, plant, and equipment $($net$)$

$1,950$

$1,884$

Other assets

$1,482$

$1,647$

Total assets

$$13,000$

$$12,181$

Liabilities and Stockholders' Equity

Current Liabilities

$$3,198$

$$3,240$

Long$-$term liabilities

$1,274$

$1,291$

Stockholders$$ equity

$8,528$

$7,650$

Total liabilities and stockholders' equity

$$13,000$

$$12,181$

$($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$.12\mathrm{.}1\%.)$

NIKE, INC.

Condensed Balance Sheet

May $31$

$($$ in millions$)$

$2022$

$2021$

Increase

$($Decrease$)$

Percentage

Change

from $2021$

Assets

Current Assets

$$9,568$

$$8,650$

$enter a dollar amount

$918$

Correct answer

enter percentages rounded to $1$ decimal place

$10\mathrm{.}6$

Correct answer

$\%$

Property, plant, and equipment $($net$)$

$1,950$

$1,884$

enter a dollar amount

$66$

Correct answer

enter percentages rounded to $1$ decimal place

$3\mathrm{.}5$

Correct answer

$\%$

Other assets

$1,482$

$1,647$

enter a dollar amount

$-165$

Correct answer

enter percentages rounded to $1$ decimal place

$-10$

Correct answer

$\%$

Total assets

$$13,000$

$$12,181$

$enter a total amount for this part of the balance sheet

$819$

Correct answer

enter percentages rounded to $1$ decimal place

$6\mathrm{.}7$

Correct answer

$\%$

Liabilities and Stockholders' Equity

Current Liabilities

$$3,198$

$$3,240$

$enter a dollar amount

$-42$

Correct answer

enter percentages rounded to $1$ decimal place

$-1\mathrm{.}3$

Correct answer

$\%$

Long$-$term liabilities

$1,274$

$1,291$

enter a dollar amount

$-17$

Correct answer

enter percentages rounded to $1$ decimal place

$-1\mathrm{.}3$

Correct answer

$\%$

Stockholders$$ equity

$8,528$

$7,650$

enter a dollar amount

$878$

Correct answer

enter percentages rounded to $1$ decimal place

$11\mathrm{.}5$

Correct answer

$\%$

Total liabilities and stockholders' equity

$$13,000$

$$12,181$

$enter a total amount for this part of the balance sheet

$819$

Correct answer

enter percentages rounded to $1$ decimal place

$6\mathrm{.}7$

Correct answer

$\%$

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

NIKE, INC.

Condensed Balance Sheet

choose the accounting period

May $31,2022$

Correct answer

$ $($in millions$)$

Percent

Assets

Current Assets

$$9,568$

enter percentages rounded to $1$ decimal place

Incorrect answer

$\%$

Property, plant, and equipment $($net$)$

$1,950$

enter percentages rounded to $1$ decimal place

Incorrect answer

$\%$

Other assets

$1,482$

enter percentages rounded to $1$ decimal place

Incorrect answer

$\%$

Total assets

$$13,000$

enter percentages rounded to $1$ decimal place

Incorrect answer

$\%$

Liabilities and Stockholders' Equity

Current Liabilities

$$3,198$

enter percentages rounded to $1$ decimal place

Incorrect answer

$\%$

Long$-$term Liabilities

$1,274$

enter percentages rounded to $1$ decimal place

Incorrect answer

$\%$

Stockholders$$ equity

$8,528$

enter percentages rounded to $1$ decimal place

Incorrect answer

$\%$

Total liabilities and stockholders' equity

$$13,000$

enter percentages rounded to $1$ decimal place

Incorrect answer

$\%$