Question
In: Accounting
Hypothetical balance sheets
ypothetical balance sheets of Nike, Inc. are presented here.
NIKE, INC. | ||||
|---|---|---|---|---|
2022 | 2021 | |||
Assets | ||||
Current Assets | $9,600 | $8,730 | ||
Property, plant, and equipment (net) | 1,910 | 1,830 | ||
Other assets | 1,470 | 1,620 | ||
Total assets | $12,980 | $12,180 | ||
Liabilities and Stockholders' Equity | ||||
Current Liabilities | $3,210 | $3,370 | ||
Long-term liabilities | 1,254 | 1,330 | ||
Stockholders’ equity | 8,516 | 7,480 | ||
Total liabilities and stockholders' equity | $12,980 | $12,180 | ||
(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. | |||||||||
|---|---|---|---|---|---|---|---|---|---|
2022 | 2021 | Increase | Percentage | ||||||
Assets | |||||||||
Current Assets | $9,600 | $8,730 | % | ||||||
Property, plant, and equipment (net) | 1,910 | 1,830 | % | ||||||
Other assets | 1,470 | 1,620 | % | ||||||
Total assets | $12,980 | $12,180 | $ | % | |||||
Liabilities and Stockholders' Equity | |||||||||
Current Liabilities | $3,210 | $3,370 | $ | % | |||||
Long-term liabilities | 1,254 | 1,330 | % | ||||||
Stockholders’ equity | 8,516 | 7,480 | % | ||||||
Total liabilities and stockholders' equity | $12,980 | $12,180 | $ | % | |||||
(b) Prepare a vertical analysis of the balance sheet data for Nike for 2022.
NIKE, INC. | |||||
|---|---|---|---|---|---|
Percent | |||||
Assets | |||||
Current Assets | $9,600 | % | |||
Property, plant, and equipment (net) | 1,910 | % | |||
Other assets | 1,470 | % | |||
Total assets | $12,980 | % | |||
Liabilities and Stockholders' Equity | |||||
Current Liabilities | $3,210 | % | |||
Long-term Liabilities | 1,254 | % | |||
Stockholders’ equity | 8,516 | % | |||
Total liabilities and stockholders' equity | $12,980 | % | |||
Solutions
Expert Solution
NIKE, INC. Condensed Balance Sheet For The Year Ended May 31, 2022 | ||||||
| 2022 | 2021 | |||||
| Assets | ||||||
| Current assets | $9,600 | 74 | % | $8,730 | 71.7 | % |
| Property, plant and equipment (net) | 1,910 | 14.7 | 1,830 | 15 | ||
| Other assets | 1,470 | 11.3 | 1,620 | 13.3 | ||
| Total assets | 12,980 | 100 | % | 12,180 | 100 | % |
| Liabilities and Stockholders' Equity | ||||||
| Current liabilities | 3,200 | 24.6 | 3,370 | 27.7 | ||
| Long-term liabilities | 1,310 | 10.1 | 1,330 | 10.9 | ||
| Stockholders' equity | 8,470 | 65.3 | 7,480 | 61.4 | ||
| Total liabilities and stockholders' equity | $12,980 | 100 | % | $12,180 | 100 | % |
ekkarill92 answered 2 years agoRelated Solutions
Hypothetical balance sheets of Nike, Inc. are presented here.
Hypothetical balance sheets of Nike, Inc. are presented here. (a) Prepare a horizontal analysis of the balance sheet data for Nike, using 2021 as a base. If amount and percentage are a decrease show the numbers as negative, es -55,000, -20% or (55,000). (20%). Round percentages to 1 decimal place, es. 12.5%) b) Prepare a vertical analysis of the balance sheet data for Nike for 2022 NIKE
Hypothetical balance sheets of Nike, Inc. are presented here.
Hypothetical balance sheets of Nike, Inc. are presented here. NIKE, INC. Condensed Balance Sheet May 31 ($ in millions) (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, eg. 12.5%.) NIKE, INC. Condensed Balance Sheet May 31 ($ in millions) (b) Prepare a vertical analysis of the balance sheet data for Nike for...
Hypothetical balance sheets of Nike, Inc. are presented here. NIKE, INC. Condensed Balance Sheet May 31...
Hypothetical balance sheets of Nike, Inc. are
presented here.
NIKE, INC.
Condensed Balance Sheet
May 31
($ in millions)
2022
2021
Assets
Current Assets
$9,670
$8,740
Property, plant, and equipment (net)
1,900
1,850
Other assets
1,590
1,690
Total assets
$13,160
$12,280
Liabilities and Stockholders' Equity
Current Liabilities
$3,200
$3,320
Long-term liabilities
1,270
1,320
Stockholders’ equity
8,690
7,640
Total liabilities and stockholders' equity
$13,160
$12,280
(a) Prepare a horizontal analysis of the
balance sheet data for Nike, using 2021 as a...
Hypothetical balance sheets of Nike, Inc. are presented here. NIKE, INC. Condensed Balance Sheet May 31...
Hypothetical balance sheets of Nike, Inc. are
presented here.
NIKE, INC.
Condensed Balance Sheet
May 31
($ in millions)
2022
2021
Assets
Current Assets
$9,500
$8,880
Property, plant, and equipment (net)
1,950
1,830
Other assets
1,530
1,640
Total assets
$12,980
$12,350
Liabilities and Stockholders' Equity
Current Liabilities
$3,200
$3,300
Long-term liabilities
1,250
1,270
Stockholders’ equity
8,530
7,780
Total liabilities and stockholders' equity
$12,980
$12,350
(a) Prepare a horizontal analysis of the balance
sheet data for Nike, using 2021 as a...
Hypothetical balance sheets of Nike, Inc. are presented here. NIKE, INC. Condensed Balance Sheet May 31...
Hypothetical balance sheets of Nike, Inc. are
presented here.
NIKE, INC.
Condensed Balance Sheet
May 31
($ in millions)
2022
2021
Assets
Current Assets
$9,800
$8,760
Property, plant, and equipment (net)
1,970
1,800
Other assets
1,550
1,770
Total assets
$13,320
$12,330
Liabilities and Stockholders' Equity
Current Liabilities
$3,294
$3,320
Long-term liabilities
1,287
1,350
Stockholders’ equity
8,739
7,660
Total liabilities and stockholders' equity
$13,320
$12,330
(a) Prepare a horizontal analysis of the balance
sheet data for Nike, using 2021 as a...
Hypothetical balance sheets of Nike, Inc. are presented here. Please show how to do the equations....
Hypothetical balance sheets of Nike, Inc. are
presented here. Please show how to do the equations. Thank you.
NIKE, INC.
Condensed Balance Sheet
May 31
($ in millions)
2022
2021
Assets
Current Assets
$9,600
$8,790
Property, plant, and equipment (net)
1,810
1,800
Other assets
1,580
1,710
Total assets
$12,990
$12,300
Liabilities and Stockholders' Equity
Current Liabilities
$3,170
$3,300
Long-term liabilities
1,230
1,390
Stockholders’ equity
8,590
7,610
Total liabilities and stockholders' equity
$12,990
$12,300
(a) Prepare a horizontal analysis of the...
Exercise 13-05 Hypothetical balance sheets of Nike, Inc. are presented here. NIKE, INC. Condensed Balance Sheet...
Exercise 13-05 Hypothetical balance sheets of Nike, Inc. are presented here. NIKE, INC. Condensed Balance Sheet May 31 ($ in millions) (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 Sheet May 31 ($ in millions) (b) Prepare a vertical analysis of the balance sheet data for...
Which of the following is a difference between balance sheets and income statements? a. Balance sheets...
Which of the following is a difference between balance sheets
and income statements?
a. Balance sheets are also known as
profit and loss statements, whereas income statements are also
known as statements of financial position.
b. Balance sheets are used to track
a business's liquidity, efficiency, and profitability over time
compared to other businesses in its industry, whereas income
statements are quantitative plans through which managers decide how
to allocate available money to best accomplish company goals.
c. Balance sheets...
The comparative balance sheets and an income statement for Raceway Corporation follow. Balance Sheets As of...
The comparative balance sheets and an income statement for
Raceway Corporation follow.
Balance Sheets
As of December 31
Year 2
Year 1
Assets
Cash
$
71,084
$
41,770
Accounts receivable
30,368
22,270
Merchandise inventory
156,692
172,360
Prepaid rent
2,460
4,920
Equipment
260,140
287,240
Accumulated depreciation
(148,440
)
(239,840
)
Land
192,720
80,320
Total assets
$
565,024
$
369,040
Liabilities
Accounts payable (inventory)
$
61,746
70,040
Salaries payable
33,367
28,600
Stockholders’ equity
Common stock, $50 par value
251,500
198,500
Retained earnings...
The comparative balance sheets and income statements for Gypsy Company follow. Balance Sheets As of December...
The comparative balance sheets and income statements for Gypsy
Company follow.
Balance Sheets
As of December 31
Year 2
Year 1
Assets
Cash
$
25,779
$
2,523
Accounts receivable
2,158
1,295
Inventory
6,559
6,149
Equipment
18,948
43,638
Accumulated depreciation—equipment
(7,717
)
(17,493
)
Land
19,647
9,607
Total assets
$
65,374
$
45,719
Liabilities and equity
Accounts payable (inventory)
$
2,552
$
4,122
Long-term debt
2,728
6,236
Common stock
24,100
10,000
Retained earnings
35,994
25,361
Total liabilities and equity
$
65,374...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Trust, or lack of trust, is an increasingly important issue in today’s organizations.71 In today’s uncertain...
- In this programming assignment, you will write C code that performs recursion. For the purpose of...
- Suppose you purchase one WM May strike=102 call contract at $5 and write one WM May...
- The three call options issued by Tesla Inc are listed below. Suppose that the current price...
- 1. Explain why times of economic distress caused classical liberalism to fall out of favor.
- To demonstrate the practical implementation of the public\private encryption, you have been asked to compete the...
- Suppose we are thinking about replacing an old computer with a new one. The old one...
ADVERTISEMENT