Hypothetical comparative condensed balance sheets of Nike, Inc. are presented here. Assets Current assets Property, plant, and equipment (net) Other assets Nike, Inc. Condensed Balance Sheets May 31 ($ in millions) Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Stockholders' equity Total liabilities and stockholders' equity 2022 $10,179 1,890 1,404 $13,473 $3,564 1,344 8,565 $13,473 2021 $8,700 1,800 1,800 $12,300 $3,600 1,400 7,300 $12,300

Hypothetical comparative condensed balance sheets of Nike, Inc. are presented here. Assets Current assets Property, plant, and equipment (net) Other assets Nike, Inc. Condensed Balance Sheets May 31 ($ in millions) Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Stockholders' equity Total liabilities and stockholders' equity 2022 $10,179 1,890 1,404 $13,473 $3,564 1,344 8,565 $13,473 2021 $8,700 1,800 1,800 $12,300 $3,600 1,400 7,300 $12,300

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Description: Hypothetical comparative condensed balance sheets of Nike, Inc. are presented here.AssetsCurrent assetsProperty, plant, and equipment (net)Other assetsNike, Inc.Condensed Balance SheetsMay 31($ in millions)Total assetsLiabilities and Stockholders' E

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Hypothetical balance sheets of Nike, Inc. are presented here. NIKE, INC.Condensed Balance SheetMay 31($ in millions) 2022 2021 Assets Current Assets $9,550 $8,880 Property, plant, and equipment (net) 2,050 1,840 Other assets 1,480 1,780 Total assets $13,080 $12,500 Liabilities and Stockholders' Equity Current Liabilities $3,230 $3,330 Long-term liabilities 1,270 1,370 Stockholders’ equity 8,580 7,800 Total liabilities and stockholders' equity $13,080 $12,500 (a) Prepare a horizontal analysis of the balance sheet data for Nike, using 2021 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.5%.) NIKE, INC.Condensed Balance SheetMay 31($ in millions) 2022 2021 Increase(Decrease) PercentageChangefrom 2021…