The comparative balance sheets of Nike, Inc. are presented here.

Instructions(a) Prepare a horizontal analysis of the balance sheet data for Nike, using 2008 as a base.(Show the amount of increase or decrease as well.)(b) Prepare a vertical analysis of the balance sheet data for Nike for 2009.

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NIKE, INC. Comparative Balance Sheets May 31 ($ in millions) Assets 2009 2008 $ 9,734 $ 8,839 1,891 Current assets Property, plant, and equipment (net) Other assets 1,958 1,558 1,713 Total assets $13,250 $12,443 Liabilities and Stockholders' Equity $ 3,277 1,280 8,693 $ 3,322 Current liabilities Long-term liabilities Stockholders' equity 1,296 7,825 Total liabilities and stockholders' equity $13,250 $12,443