Suppose the comparative balance sheets of Nike, Inc. are presented here.

Nike, Inc.

Comparative Balance Sheets

May 31

($ in millions)

2020

2019

Assets

Current assets

$10,179

$8,700Property, plant, and equipment (net)

1,890

1,800Other assets

1,404

1,800Total assets

$13,473

$12,300Liabilities and Stockholders' Equity

Current liabilities

$3,564

$3,600Long-term liabilities

1,344

1,400Stockholders' equity

8,565

7,300Total liabilities and stockholders' equity

$13,473

$12,300

(a)

show a horizontal analysis of the balance sheet data for Nike, using 2019 as a base. (Show the amount of increase or decrease as well.) (Enter amounts in millions. Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.)

NIKE, INC.

Condensed Balance Sheet

($ in millions)

2020

2019

Increase

(Decrease)

Percentage

Change from 2019

Assets

Current assets

$10,179

$8,700

$

%

Property, plant & equipment (net)

1,890

1,800

%

Other assets

1,404

1,800

%

Total Assets

$13,473

$12,300

$

%

Liabilities and Stockholders' Equity

Current liabilities

$3,564

$3,600

$

%

Long-term liabilities

1,344

1,400

%

Stockholders' equity

8,565

7,300

%

Total liabilities and Stockholders' Equity

$13,473

$12,300

$

%

(b)

Prepare a vertical analysis of the balance sheet data for Nike for 2020. (Round percentages to 1 decimal place, e.g. 12.3%.)

NIKE, INC.

Condensed Balance Sheet

$ (in millions)

Percent

Assets

Current assets

$10,179

%

Property, plant, and equipment (net)

1,890

%

Other assets

1,404

%

Total Assets

$13,473

%

Liabilities and Stockholders' Equity

Current liabilities

$3,564

%

Long-term liabilities

1,344

%

Stockholders' equity

8,565

%

Total liabilities and Stockholders' Equity

$13,473

%