Question

Hypothetical balance sheets of Nike, Inc. are presented here.

NIKE, INC. Condensed Balance Sheet May 31 ($ in millions)
		2022		2021
Assets
Current Assets		$9,760		$8,780
Property, plant, and equipment (net)		2,050		1,840
Other assets		1,520		1,660
Total assets		$13,330		$12,280
Liabilities and Stockholders' Equity
Current Liabilities		$3,240		$3,380
Long-term liabilities		1,230		1,290
Stockholders’ equity		8,860		7,610
Total liabilities and stockholders' equity		$13,330		$12,280

(a) Prepare a horizontal analysis of the balance sheet data for Nike, using 2021 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. 12.5%.)

NIKE, INC. Condensed Balance Sheet May 31 ($ in millions)
		2022		2021		Increase (Decrease)		Percentage Change from 2021
Assets
Current Assets		$9,760		$8,780		$enter a dollar amount		enter percentages rounded to 1 decimal place rounded to 1 decimal place	%
Property, plant, and equipment (net)		2,050		1,840		enter a dollar amount		enter percentages rounded to 1 decimal place rounded to 1 decimal place	%
Other assets		1,520		1,660		enter a dollar amount		enter percentages rounded to 1 decimal place rounded to 1 decimal place	%
Total assets		$13,330		$12,280		$enter a dollar amount		enter percentages rounded to 1 decimal place rounded to 1 decimal place	%
Liabilities and Stockholders' Equity
Current Liabilities		$3,240		$3,380		$enter a dollar amount		enter percentages rounded to 1 decimal place rounded to 1 decimal place	%
Long-term liabilities		1,230		1,290		enter a dollar amount		enter percentages rounded to 1 decimal place rounded to 1 decimal place	%
Stockholders’ equity		8,860		7,610		enter a dollar amount		enter percentages rounded to 1 decimal place rounded to 1 decimal place	%
Total liabilities and stockholders' equity		$13,330		$12,280		$enter a dollar amount		enter percentages rounded to 1 decimal place rounded to 1 decimal place	%

Answer 1