Exercise 14-3 (Part Level Submission)

The comparative condensed balance sheets of Gurley Corporation are presented below.

A. Prepare a horizontal analysis of the balance sheet data for Gurley Corporation using 2016 as a base.

B. Prepare a vertical analysis of the balance sheet data for Gurley Corporation in columnar form for 2017.

Exercise 14-3 (Part Level Submission) The comparative condensed balance sheets of Gurley Corporation are presented below. GURLEY CORPORATION Comparative Condensed Balance Sheets December 31, 2017 2016 Assets Current assets 76,000 79,400 Property, plant, and equipment (net) 99,000 89,600 Intangibles 27,800 38,000 Total assets $202,800 $207,000 Liabilities and stockholders' equity Current liabilities 41,000 49,600 Long-term liabilities 144,800 150,000 Stockholders' equity 17,000 7,400 Total liabilities and stockholders' equity $202,800 $207,000 *(a) Prepare a horizontal analysis of the balance sheet data for Gurley Corporation using 2016 as a base. (Enter negative amounts and percentages using either a negative sign preceding the number e g. -45, -459% or parentheses e.g. (45), (45%) Round percentages to 1 decimal place, e.g. 12.3%.)