xercise 14-5

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		$ 9,682		$ 9,400
Property, plant, and equipment (net)		2,125		1,700
Other assets		1,568		1,600
Total assets		$13,375		$12,700
Liabilities and Stockholders Equity
Current liabilities		$ 3,038		$ 3,100
Long-term liabilities		1,248		1,300
Stockholders equity		9,089		8,300
Total liabilities and stockholders equity		$13,375		$12,700

(a) 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 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 For the Year Ended May 31For the Quarter Ended May 31May 31 ($ in millions)
		2020		2019			Increase (Decrease)		Percentage Change from 2019
Assets
Current assets		$9,682		$9,400			$		%
Property, plant & equipment (net)		2,125		1,700					%
Other assets		1,568		1,600					%
Total Assets		$13,375		$12,700			$		%
Liabilities and Stockholders' Equity
Current liabilities		$3,038		$3,100			$		%
Long-term liabilities		1,248		1,300					%
Stockholders' equity		9,089		8,300					%
Total liabilities and Stockholders' Equity		$13,375		$12,700			$		%

(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 May 31, 2020 For the Quarter Ended May 31, 2020 For the Year Ended May 31, 2020
		$ (in millions)		Percent
Assets
Current assets		$9,682		%
Property, plant, and equipment (net)		2,125		%
Other assets		1,568		%
Total Assets		$13,375		%
Liabilities and Stockholders' Equity
Current liabilities		$3,038		%
Long-term liabilities		1,248		%
Stockholders' equity		9,089		%
Total liabilities and Stockholders' Equity		$13,375		%