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

$8,880

$8,023

Property, plant, and equipment (net)

1,800

1,734

Other assets

1,320

1,469

Total assets

$12,000

$11,226

Liabilities and Stockholders' Equity

Current Liabilities

$2,952

$3,000

Long-term liabilities

1,152

1,169

Stockholders equity

7,896

7,057

Total liabilities and stockholders' equity

$12,000

$11,226

(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) Percentage Change from 2021 2022 Increase (Decrease) 2021 Assets Current Assets $8,880 $8,023 $ % Property, plant, and equipment (net) 1,800 1,734 % Other assets 1,320 1,469 % Total assets $12,000 $11,226 $ %6 Liabilities and Stockholders' Equity Current Liabilities $2,952 $3,000 Long-term liabilities 1,152 1,169 % Stockholders' equity 7.896 7,057 96 Total liabilities and stockholders! equity $12,000 $11,226 $ % (b) Prepare a vertical analysis of the balance sheet data for Nike for 2022 NIKE, INC. Condensed Balance Sheet $ (in millions) Percent Assets Current Assets $8,880 % Property, plant, and equipment (net) 1,800 de Other assets 1,320 % Total assets $12,000 de % Liabilities and Stockholders' Equity Current Liabilities $2.952 % % Long-term Liabilities 1,152 % Stockholders' equity 7,896 % de Total liabilities and stockholders' equity $12,000 de