The following items were taken from the balance sheet of Nike, Inc.

InstructionsPerform each of the following.(a) Classify each of these items as an asset, liability, or stockholders' equity sand determine the total dollar amount for each classification. (All dollars are in millions.)(b) Determine Nike's accounting equation by calculating the value of total assets, total liabilities, and total stockholders' equity.(c) To what extent does Nike rely on debt versus equityfinancing?

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1. Cash $2,291.1 $2,357.0 86.3 2. Accounts receivable 2,883.9 2,874.2 342.9 3,759.9 1,311.5 8. Income taxes payable 3. Common stock 4. Notes payable 5. Other assets 9. Property, plant, and equipment 10. Retained earnings 1,957.7 5,818.9 11. Accounts payable 2,815.8 6. Other liabilities