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 | $8,800 | ||
| Property, plant, and equipment (net) | 1,990 | 1,810 | ||
| Other assets | 1,590 | 1,610 | ||
| Total assets | $13,100 | $12,220 | ||
| Liabilities and Stockholders’ Equity | ||||
| Current Liabilities | $3,220 | $3,380 | ||
| Long-term liabilities | 1,260 | 1,340 | ||
| Stockholders’ equity | 8,620 | 7,500 | ||
| Total liabilities and stockholders’ equity | $13,100 | $12,220 | ||
(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, e.g. 12.5%.)
