This work ACC 561 Week 2 Individual WileyPlus Exercises E13 5, E13 6 includes answers to these exercises:

1. Exercise E13-5

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

Complete the horizontal analysis of the balance sheet data for Nike using 2006 as a base. (If amount decreases, use either a negative sign preceding the number, e.g. -45 or parenthesis, e.g. (45). Round all percentages to 1 decimal place, e.g. 12.5.)

2. Exercise E13-6

Here are the comparative income statements of Winfrey Corporation.

WINFREY CORPORATION

Comparative Income Statements

For the Years Ended December 31

2010 2009

Net sales $598,000 $520,000

Cost of goods sold 477,000 450,000

Gross profit $121,000 $70,000

Operating expenses 80,000 45,000

Net income $41,000 $25,000

Complete the horizontal analysis of the income statement data for Winfrey Corporation using 2009 as a base. (Round all percentages to 1 decimal place, e.g. 12.5.)