Suppose the comparative balance sheets of Sage Hill Inc. are presented here SAGE HILL INC. Condensed Balance Sheet May 31 ($ in millions) 2017 2016 Assets Current Assets Property, plant, and equipment (net) Other assets Total assets $9.600 2,050 1.540 $8,700 1,840 1.740 $13.190 $12,280 Liabilities and Stockholders' Equity Current Liabilities Long-term liabilities $3.220 $3.340 1,300 1330 8,670 7.610 $13,190 $12,280 Stockholders' equity Total liabilities and stockholders' equity (a) Prepare a horizontal analysis of the balance sheet data for Sage Hill, using 2016 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g.-55,000, -20% or (55,000). (20%). Round percentages to 1 decimal place, e.g. 12.1%) SAGE HILL INC. Condensed Balance Sheet May 31 ($ in millions) 2017 2016 Increase (Decrease) Percentage Change from 2016 Assets Current Assets $9,600 $8,700 $ Property, plant, and equipment (net) Other assets 2.050 1.840 1.540 1740 $13,190 $12,280 Total assets $ Liabilities and Stockholders' Equity Current Liabilities $ Long-term liabilities $3,220 1,300 8.670 $3,340 1,330 7.610 Stockholders' equity Total liabilities and stockholders' equity $13,190 $12.280 $ (b) Prepare a vertical analysis of the balance sheet data for Sage Hill for 2017. SAGE HILL INC. Condensed Balance Sheet $ (in millions) Percent Assets Current Assets $9,600 Property, plant, and equipment (net) 2,050 Other assets 1.540 Total assets $13.190 Liabilities and Stockholders' Equity Current Liabilities $3.220 Long-term Liabilities 1,300 Stockholders' equity 8,670 Total liabilities and stockholders' equity $13.190