Question 3 --/1 View Policies Current Attempt in Progress Hypothetical balance sheets of Nike, Inc. are presented here. NIKE, INC. Condensed Balance Sheet May 31 ($ in millions 2022 2021 Assets Current Assets $9,520 $8,720 Property, plant, and equipment (net) 2,010 1,870 Other assets 1,550 1,610 Total assets $13,080 $12,200 Liabilities and Stockholders' Equity Current Liabilities $3,210 $3,320 Long-term liabilities 1,210 1,290 Liabilities and Stockholders' Equity Current Liabilities $3,210 $3,320 Long-term liabilities 1,210 1,290 Stockholders' equity 8,660 7,590 Total liabilities and stockholders' equity $13,080 $12,200 (a) Prepare a horizontal analysis of the balance sheet data for Nike, using 2021 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000).(20%). Round percentages to 1 decimal place, eg. 12.5%.) NIKE, INC. Condensed Balance Sheet May 31 ($ in millions) 2022 2021 Increase (Decrease) Percentage Change from 2016 Assets Current Assets $9,520 $8,720 $ Property, plant, and equipment (net) 2,010 1,870 Property, plant, and equipment (net) 2,010 1,870 Other assets 1,550 1,610 Total assets $13,080 $12,200 $ Liabilities and Stockholders' Equity Current Liabilities $3,210 $3,320 $ Long-term liabilities 1,210 1,290 Stockholders' equity 8,660 7,590 Total liabilities and stockholders' equity $13,080 $12,200 $ (b) Prepare a vertical analysis of the balance sheet data for Nike for 2022. NIKE, INC. Condensed Balance Sheet $ (in millions) Percent Assets NIKE, INC. Condensed Balance Sheet $ (in millions) Percent Assets Current Assets $9,520 Property, plant, and equipment (net) 2,010 Other assets 1,550 Total assets $13,080 Liabilities and Stockholders' Equity Current Liabilities $3,210 Long-term Liabilities 1,210 Stockholders' equity 8,660 Total liabilities and stockholders' equity $13,080