Suppose the comparative balance sheets of Larkspur, Inc. are presented here. LARKSPUR, INC. Condensed Balance Sheet May 31 ($ in millions) 2017 2016 $9,640 $8,720 2010 1.840 1,450 1,730 Assets Current Assets Property, plant, and equipment (net) Other assets Total assets Liabilities and Stockholders' Equity Current Liabilities Long-term liabilities Stockholders equity Total liabilities and stockholders' equity $13,100 $12,290 $3.250 $3,340 1.290 1,340 8.560 7,610 $13,100 $12,290 (a) Prepare a horizontal analysis of the balance sheet data for Larkspur, using 2016 as a base. If amount and percentage are a decrease show the numbers as negative, es. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, a.s. 12.1%) LARKSPUR, INC. Condensed Balance Sheet May 31 ($ in millions) 2017 2016 Increase (Decrease) Percentage Change from 2013 Assets Current Assets $9.640 $8.720 $ % Property, plant, and equipment (net) 2010 1,840 % Other assets 1.450 1.730 $13,100 $12.290 $ Total assets Liabilities and Stockholders' Equity Current Liabilities $3.250 $3.340 $ Long-term liabilities 1.290 1,340 Stockholders' equity 8,560 7.610 Total liabilities and stockholders' equity $13,100 $12.290 $ (b) Prepare a vertical analysis of the balance sheet data for Larkspur for 2017 LARKSPUR, INC. Condensed Balance Sheet Percent $ (in millions) Assets $9,640 Current Assets % 2,010 Property, plant, and equipment (net) se 1,450 Other assets 96 $13,100 Total assets Liabilities and Stockholders' Equity %6 $3,250 Current Liabilities % 1,290 Long-term Liabilities 8,560 Stockholders' equity %6 $13,100 Total liabilities and stockholders' equity