Exercise 14-3

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

GURLEY CORPORATION Comparative Condensed Balance Sheets December 31
		2017		2016
Assets
Current assets		$ 73,400		$ 80,600
Property, plant, and equipment (net)		97,900		90,200
Intangibles		26,800		38,400
Total assets		$ 198,100		$ 209,200
Liabilities and stockholders equity
Current liabilities		$ 42,600		$ 47,200
Long-term liabilities		140,800		150,200
Stockholders equity		14,700		11,800
Total liabilities and stockholders equity		$ 198,100		$ 209,200

(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.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.)

GURLEY CORPORATION Condensed Balance Sheets For the Quarter Ended December 31 December 31 For the Year Ended December 31
		2017		2016			Increase (Decrease)		Percentage Change from 2016
Assets
Current assets		$ 73,400		$ 80,600			$		%
Property, plant & equipment (net)		97,900		90,200					%
Intangibles		26,800		38,400					%
Total assets		$ 198,100		$ 209,200			$		%
Liabilities and stockholders' Equity
Current liabilities		$ 42,600		$ 47,200			$		%
Long-term liabilities		140,800		150,200					%
Stockholders' equity		14,700		11,800					%
Total liabilities and stockholders' equity		$ 198,100		$ 209,200			$		%

(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. 12.3%.)

GURLEY CORPORATION Condensed Balance Sheet December 31, 2017 For the Quarter Ended December 31, 2017 For the Year Ended December 31, 2017
		Amount		Percent
Assets
Current assets		$ 73,400		%
Property, plant, and equipment (net)		97,900		%
Intangibles		26,800		%
Total assets		$ 198,100		%
Liabilities and stockholders' equity
Current liabilities		$ 42,600		%
Long-term liabilities		140,800		%
Stockholders' equity		14,700		%
Total liabilities and stockholders' equity		$ 198,100		%