The comparative condensed balance sheets of Able Corporation are presented below. ABLE CORPORATION Comparative Condensed Balance...

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The comparative condensed balance sheets of Able Corporation are presented below. ABLE CORPORATION Comparative Condensed Balance Sheets December 31 2021 2020 Assets Current assets $ 72,000 $ 80,000 Property, plant, and equipment (net) 95,400 90,000 Intangibles 33,600 40,000 Total assets $201,000 $210,000 Liabilities and stockholders' equity Current liabilities $ 40,320 $ 48,000 Long-term liabilities 142,500 150,000 Stockholders' equity 18,180 12,000 Total liabilities and stockholders' equity $201,000 Instructions $210,000 (a) Prepare a horizontal analysis of the balance sheet data for Able Corporation using 2020 as a base. (b) Prepare a vertical analysis of the balance sheet data for Able Corporation in columnar form for 2021. The comparative condensed balance sheets of Able Corporation are presented below. ABLE CORPORATION Comparative Condensed Balance Sheets December 31 2021 2020 Assets Current assets $ 72,000 $ 80,000 Property, plant, and equipment (net) 95,400 90,000 Intangibles 33,600 40,000 Total assets $201,000 $210,000 Liabilities and stockholders' equity Current liabilities $ 40,320 $ 48,000 Long-term liabilities 142,500 150,000 Stockholders' equity 18,180 12,000 Total liabilities and stockholders' equity $201,000 Instructions $210,000 (a) Prepare a horizontal analysis of the balance sheet data for Able Corporation using 2020 as a base. (b) Prepare a vertical analysis of the balance sheet data for Able Corporation in columnar form for 2021.