prepare a horizontal analysis of the balance sheet data for nike using 2006 as a bas 577418

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

NIKE, INC. Comparative Balance Sheets May 31 ($ in millions)
Assets	2007	2006
Current assets	$ 8,076	$7,346
Property, plant, and equipment (net)	1,678	1,658
Other assets	934	866
Total assets	$10,688	$9,870
Liabilities and Stockholders’ Equity
Current liabilities	$ 2,584	$2,612
Long term liabilities	1,079	973
Stockholders’ equity	7,025	6,285
Total liabilities and stockholders’ equity	$10,688	$9,870

Instructions

(a) Prepare a horizontal analysis of the balance sheet data for Nike using 2006 as a base.

(b) Prepare a vertical analysis of the balance sheet data for Nike for 2007.