View Policies Current Attempt in Progress Suppose the comparative balance sheets of Larkspur, Inc. are presented here. LARKSPUR, INC. Condensed Balance Sheet May 31 ($ in millions) 2017 2016 Assets Current Assets $9,640 $8.720 Property, plant, and equipment (net) 2.010 1.840 Other assets 1.450 1.730 Total assets $13.100 $12.290 Liabilities and Stockholders' Equity Current Liabilities $3.250 $3,340 Long-term liabilities 1 290 1.340 Stockholders' equity 8.560 7,610 Total liabilities and stockholders' equity $13.100 $12 290 (a) Prepares horizontal analysis of the balance sheet data for Larkspur using 2016 as a base. (If amount and perce show the numbers as negative, e.g.-55.000, -20% or (55,000). (20%). Round percentages to 1 decimal place. es. 12.1% a) Prepare a horizontal analysis of the balance sheet data for Larkspur, using 2016 as a bane (amount and percentage or a decrease show the numbers as negative, es-55.000, -20% ($5,0001.(20%. Round percentages to 1 decimal portes 121%) LARKSPUR, INC. Condensed Balance Sheet May 31 ($ in millions) Percentage Increase 2017 2016 Change (Decrease) from 2013 Assets Current Assets $9.540 $8.720 Property, plant, and equipment 2010 (net) $ 920 10.55 1840 170 9.24 Other asset 1450 1730 20 16TH Total asset $13.100 $12.290 S 10 639 Liabilities and stockholders Equity Current Labs $3.250 $1340 10 2 Long-term bibe 1290 1340 22 Stockholders equity 356 7610 2. 82"F M 5 6 7 8 Total liabilities and stockholders' equity $13,100 $12,290 $ 810 6.59 (b) Prepare a vertical analysis of the balance sheet data for Larkspur for 2017 LARKSPUR, INC. Condensed Balance Sheet $ (in millions) Percent Assets Current Assets $9.640 98 Property, plant, and equipment (net) 2010 8 Other assets 1.450 94 Total assets $13,100 Liabilities and Stockholders' Equity Current Liabilities $3,250 Long-term Liabilities 1.200 Stockholders equity 8.560 LARKSPUR, INC. Condensed Balance Sheet $ (in millions) Percent Assets Current Assets $9,640 % Property, plant, and equipment (net) 2,010 % Other assets 1.450 OR Total assets $13,100 96 Liabilities and Stockholders' Equity Current Liabilities $3,250 96 Long-term Liabilities 1.290 96 Stockholders' equity 8.560 56 Total liabilities and stockholders' equity $13.100 96