1. The comparative condensed balance sheets of Able Corporation are presented below ABLE CORPORATION Comparative Condensed Balance Sheets December 31 2017 2016 Assets Current assets Property, plant, and equipment (net) Intangibles $ 72,000 95,400 600 $201,000 $ 80,000 90,000 40,000 $210,000 Total assets Liabilities and stockholders' equity Current liabilities Long-term liabilities Stockholders' equity S 40,320 142,500 18,180 $201,000 $ 48,000 150,000 12,000 $210,000 Total liabilities and stockholders' equity Instructions (a) Prepare a horizontal analysis of the balance sheet data for Able Corporation using 2016 as a base. (Show the amount of increase/decrease and the percentage change) (b) Prepare a vertical analysis of the balance sheet data for Able Corporation in columnar form for 2017