Question
Suppose the comparative balance sheets of Nike, Inc. are as follows. NIKE, INC. Condensed Balance Sheet May 31 ($ in millions) 2022 2021 Assets Current
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 | $8,048 | ||
| Property, plant, and equipment (net) | 1,776 | 1,712 | ||
| Other assets | 1,344 | 1,496 | ||
| Total assets | $12,000 | $11,256 | ||
| Liabilities and Stockholders' Equity | ||||
| Current Liabilities | $2,976 | $3,022 | ||
| Long-term liabilities | 1,152 | 1,167 | ||
| Stockholders equity | 7,872 | 7,067 | ||
| Total liabilities and stockholders' equity | $12,000 | $11,256 | ||
(a) Prepare a horizontal analysis of the balance sheet data for Nike, using 2021 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.)
| NIKE, INC. Condensed Balance Sheet May 31 ($ in millions) | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | Increase (Decrease) | Percentage Change from 2021 | ||||||
| Assets | |||||||||
| Current Assets | $8,880 | $8,048 | $enter a dollar amount | enter percentages rounded to 1 decimal place | % | ||||
| Property, plant, and equipment (net) | 1,776 | 1,712 | enter a dollar amount | enter percentages rounded to 1 decimal place | % | ||||
| Other assets | 1,344 | 1,496 | enter a dollar amount | enter percentages rounded to 1 decimal place | % | ||||
| Total assets | $12,000 | $11,256 | $enter a total amount for this part of the balance sheet | enter percentages rounded to 1 decimal place | % | ||||
| Liabilities and Stockholders' Equity | |||||||||
| Current Liabilities | $2,976 | $3,022 | $enter a dollar amount | enter percentages rounded to 1 decimal place | % | ||||
| Long-term liabilities | 1,152 | 1,167 | enter a dollar amount | enter percentages rounded to 1 decimal place | % | ||||
| Stockholders equity | 7,872 | 7,067 | enter a dollar amount | enter percentages rounded to 1 decimal place | % | ||||
| Total liabilities and stockholders' equity | $12,000 | $11,256 | $enter a total amount for this part of the balance sheet | enter percentages rounded to 1 decimal place | % | ||||
(b) Prepare a vertical analysis of the balance sheet data for Nike for 2022.
| NIKE, INC. Condensed Balance Sheet choose the accounting period For the Month Ended May 31, 2022For the Year Ended May 31, 2022May 31, 2022 | |||||
|---|---|---|---|---|---|
| $ (in millions) | Percent | ||||
| Assets | |||||
| Current Assets | $8,880 | enter percentages rounded to 1 decimal place | % | ||
| Property, plant, and equipment (net) | 1,776 | enter percentages rounded to 1 decimal place | % | ||
| Other assets | 1,344 | enter percentages rounded to 1 decimal place | % | ||
| Total assets | $12,000 | enter percentages rounded to 1 decimal place | % | ||
| Liabilities and Stockholders' Equity | |||||
| Current Liabilities | $2,976 | enter percentages rounded to 1 decimal place | % | ||
| Long-term Liabilities | 1,152 | enter percentages rounded to 1 decimal place | % | ||
| Stockholders equity | 7,872 | enter percentages rounded to 1 decimal place | % | ||
| Total liabilities and stockholders' equity | $12,000 | enter percentages rounded to 1 decimal place | % | ||
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