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 $10,500

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 $10,500 $8,400 Current assets Property, plant, and equipment (net) 2,006 1,700 Other assets 1,900 1,406 $13,912 $12,000 Total assets Liabilities and Stockholders' Equity $3,069 $3,100 Current liabilities Long-term liabilities 1,248 1,300 Stockholders' equity 9,595 7,600 $13,912 $12,000 Total liabilities and stockholders' equity Prepare a horizontal analysis of the balance sheet data for Nike, using 2019 as a base. (Show the amount of increase or decrease as well.) (Enter amounts in millions. Enter negative amounts and percentages using either a negative sign preceding the number eg. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.) NIKE, INC. Condensed Balance Sheet ($ in millions) Increase Percentage 2020 2019 (Decrease) Change from 2019 Assets $8,400 $ $10,500 Current assets Property, plant & equipment (net) 2,006 1,700 Other assets 1,406 1,900 $ Total Assets $13,912 $12,000 Liabilities and Stockholders' Equity $ Current liabilities $3,069 $3,100 Long-term liabilities 1,248 1,300 Stockholders' equity 7,600 9,595 Total liabilities and Stockholders' $13,912 $12,000 Equity (b) Prepare a vertical analysis of the balance sheet data for Nike for 2020. (Round percentages to 1 decimal place, e.g. 12.3%.) KE, INC. Condensed Balance Sheet $(in millions) Percent Assets $10,500 Current assets Property, plant, and equipment (net) 2,006 Other assets 1,406 $13,912 Total Assets Liabilities and Stockholders' Equity Current liabilities $3,069 Long-term liabilities 1,248 Stockholders' equity 9,595 Total liabilities and Stockholders' $13,912 Equity

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 Accounting Theory And Analysis Text And Cases

Authors: Richard G. Schroeder, Myrtle W. Clark, Jack M. Cathey

14th Edition

1119881226, 978-1119881223

More Books

Students also viewed these Accounting questions