Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Suppose the comparative balance sheets of Nike, Inc. are presented here. Nike, Inc. Comparative Balance Sheets May 31 ($ in millions) 2020 2019 Assets Current

image text in transcribedimage text in transcribedimage text in transcribed

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 $9,840 $8.200 Property, plant, and equipment (net) 1,802 1.700 Other assets 1,615 1.700 $13,257 $11.600 $3,366 $3,400 Total assets Llabilities and Stockholders' Equity Current liabilities Long-term liabilities Stockholders' equity Total liabilities and stockholders' equity 1,344 1.400 8.547 6.800 $13,257 $11.600 Prepare a horizontal analysis of the balance sheet data for Nike, using 2019 as a base. (Show the amount of increase or decrease as well.) (Enter amounts in millions. Enter negative amounts and percentages using either a negative sign preceding the number eg. -45, -45% or parentheses eg. (45).(45%). Round percentages to 1 decimal place, eg. 12.3%) NIKE, INC. Condensed Balance Sheet ($ in millions) 2020 Increase (Decrease) Percentage Change from 2019 2019 Assets Current assets $9.840 $8.200 $ % Property, plant & equipment (net) 1.802 1.700 % Other assets 1615 1.700 % Total Assets $13.257 $11,600 $ % Liabilities and Stockholders' Equity Current liabilities $3.366 $3,400 $ % Long-term liabilities 1.344 1,400 % Stockholders' equity 8.547 6.800 %6 Total liabilities and Stockholders' Equity $13,257 $11,600 $ % Prepare a vertical analysis of the balance sheet data for Nike for 2020. (Round percentages to 1 decimal place, eg. 12.3%) NIKE, INC. Condensed Balance Sheet $ (in millions) Percent Assets Current assets $9,840 % Property, plant, and equipment (net) 1.802 % 96 Other assets 1,615 % Total Assets $13,257 96 % Liabilities and Stockholders' Equity Current liabilities $3,366 % %6 Long-term liabilities 1,344 Stockholders' equity 8.547 % Total liabilities and Stockholders Equity $13,257 %

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial And Managerial Accounting

Authors: Carl S. Warren, Jefferson P. Jones, William B. Tayler

15th Edition

1337902667, 9781337902663

More Books

Students also viewed these Accounting questions