PRINTER VERSION BACK NI Exercise 18-3 The comparative condensed balance sheets of Gurley Corporation are presented below. GURLEY CORPORATION Comparative Condensed Balance Sheets December 31 2017 2016 Assets Current assets $ 72,600 $ 80,200 Property, plant, and equipment (net) 98,700 90,200 Intangibles 27,200 39,800 Total assets $198,500 $210,200 Llabilities and stockholders' equity Current liabilities $ 42,800 $ 48,000 Long-term liabilities 143,600 151,600 Stockholders' equity 12,100 10.600 Total liabilities and stockholders' equity $198.500 $210.200 (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, 45% or parentheses e... (45), (459). Round percentages to 1 decimal place, c.0. 12.3%.) GURLEY CORPORATION Condensed Balance Sheets 2017 2016 Increase (Decrease) Percentage Change from 2016 using 2013 as a base. (Enter negative amounts and percentages using either a negative sin preceding the number e.g. 45,45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, ... 12.3%) GURLEY CORPORATION Condensed Balance Sheets 2017 2016 Increase (Decrease) Percentage Change from 2016 Assets Current assets $72,600 $80,200 Property, plant & equipment (net) 98,700 90,200 Intangibles 27.200 39,800 % Total assets $198,500 $210,200 Liabilities and stockholders' Equity Current liabilities $42,800 $48,000 Long term labilities 143,600 151,600 Stockholders' equity 12.100 10,600 Total liabilities and stockholders' equity $198.500 $210.200 (b) Prepare a vertical analysis of the balance sheet data for Gurley Corporation in columnar form for 2017. (Round percentages to 1 decimal place, e.g. 12.396.) GURLEY CORPORATION Condensed Balance Sheet Amount Percent Assets Current assets $72,600 % Property, plant, and equipment (net) 98,700 % Intangibles 27,200 94 $198,500 Total assets Liabilities and stockholders' equity Current abilities $42,800 Long-term liabilities 143,600 Stockholders equity 12.100 Total liabilities and stockholders' equity $198.500