You have a mature Thoroughbred gelding under anesthesia for…

You have a mature Thoroughbred gelding under anesthesia for a colic surgery. It is under gas anesthesia with isoflurane in oxygen and on a ventilator. An arterial blood gas analysis shows the following values. pH = 7.23, PaCO2 = 37 mmHg, PaO2 = 450 mmHg, Bicarbonate = 10 mmol/L, Base excess = -10 mmol/L. Which statement best describes this horse’s acid base status.