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The comparative balance sheets of Philip Morris Companies, Inc., are presented here. Philip Morris Companies, Inc. Comparative Balance Sheets December 31 ($ in millions) Assets

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The comparative balance sheets of Philip Morris Companies, Inc., are presented here. Philip Morris Companies, Inc. Comparative Balance Sheets December 31 ($ in millions) Assets 2019 2018 Current Assets Property, plant, and equipment (net) Other assets $ 20,230 12,335 27,355 $ 17,440 11,621 26,886 Total Assets $ 59,920 $ 55,947 Liabilities & Stockholders' Equity Current Liabilities Long-term liabilities Stockholders' equity $ 16,379 27,344 16,197 $ 15,071 25,956 14,920 Total liabilities & stockholders' equity $ 59,920 $ 55,947 Instructions (a) Prepare a horizontal analysis of the balance sheet data for Philip Morris, using 2018 as a base. Prepare a vertical analysis of the balance sheet data for Philip Morris for 2019. (b)

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