Question 2 Suppose the comparative balance sheets of Nike, Inc. are presented here. Nike, Inc. Comparative Balance Sheets May 31 ($ in millions) 2020 2019 Assets $ 10,400 2,020 $ 8,000 2,000 1,700 $11,700 1,615 $14,035 Current assets Property, plant, and equipment (net) Other assets Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Stockholders' equity $ 3,038 $ 3,100 1,287 9,710 1,300 7,300 $11,700 Total liabilities and stockholders' equity $14,035 (a) (a) Prepare a horizontal analysis of the balance sheet data for Nike, using 2019 as a base. (Show the amount of increase or decrease as well.) (Enter amounts in millions. Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.) NIKE, INC. Condensed Balance Sheet ($ in millions) 2020 2019 Increase (Decrease) Percentage Change from 2019 Assets Current assets $10,400 $8,000 Property, plant & equipment (net) 2,020 2,000 Other assets 1,615 1,700 Total Assets $14,035 $11,700 Liabilities and Stockholders' Equity Current liabilities $3,038 $3,100 Long-term liabilities 1,287 1,300 Stockholders' equity 9,710 7,300 Total liabilities and Stockholders' Equity $14,035 $11,700 (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 $ (in millions) Percent Assets Current assets $10,400 Property, plant, and equipment (net) 2,020 Other assets 1,615 Total Assets $14,035 Liabilities and Stockholders' Equity Current liabilities $3,038 Long-term liabilities 1,287 Stockholders' equity 9,710 Total liabilities and Stockholders' Equity $14,035 Click if you would like to Show Work for this question: Open Show Work