he comparative condensed balance sheets of Gurley Corporatio

he comparative condensed balance sheets of Gurley Corporation are presented below. GURLEY CORPORATION Comparative Condensed Balance Sheets December 31 2017 2016 ssets Current assets Property, plant, and equipment (net) Intangibles 74,000 80,000 99,00090,000 27,000 40,000 200,000 210,000 Total assets iabilities and stockholders equity Current liabilities Long-term liabilities Stockholders\' equity 42,000 48,000 143,000 150,000 15,000 12,000 Total liabilities and stockholders\' equity $200,000210,000 a) repare a horizontal analysis of the balance sheet data for Gurley Corporation using 2016 as a base. (Enter negative amounts and percentage sing either a negative sign preceding the number e g 45, 45% or parentheses e g 4S , 45%). Round perorta0es to de ma lace, e.g. 12.3%.) GURLEY CORPORATION Condensed Balance Sheets Increase Decrease) Percentage Change from 2016 2017 2016 Assets Current assets 74,000 $80,000

Solution

GURLEY CORPORATION Condensed Balance Sheets December 31 2017 2016 Increase(Decrease) % change Assets Current assets 74000 80000 -6000 -7.5% Property, plant & equipment (net) 99000 90000 9000 10.0% Intangibles 27000 40000 -13000 -32.5% Total assets 200000 210000 -10000 -4.8% Liabilities and stockholders’ equity Current liabilities 42000 48000 -6000 -12.5% Long-term liabilities 143000 150000 -7000 -4.7% Stockholders’ equity 15000 12000 3000 25.0% Total liabilities and stockholders’ equity 200000 210000 -10000 -4.8% GURLEY CORPORATION Condensed Balance Sheets December 31, 2017 Amount Percent Assets Current assets 74000 37.0% Property, plant & equipment (net) 99000 49.5% Intangibles 27000 13.5% Total assets 200000 100.0% Liabilities and stockholders’ equity Current liabilities 42000 21.0% Long-term liabilities 143000 71.5% Stockholders’ equity 15000 7.5% Total liabilities and stockholders’ equity 200000 100.0%