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 Property, plant, and equipment (net) Intangibles $ 72,600 $ 78,800 88,000 25,000 38,400 $196,200 $205,200 98,600 Total assets Liabilities and stockholders' equity Current liabilities Long-term liabilities Stockholders' equity s 40,800 $ 48,200 143,000 148,800 12,400 8,200 $196,200 $205,200 Total liabilities and stockholders' equity Prepare a horizontal analysis of the balance sheet data for Gurley Corporation using 2016 as a base. (Enter negative amounts an 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 (45) (49%). Round Current assets 72,600 $78,800 25,000 38,400 Liablities and stockholders' Equity ES Prepare a vertical analysis of the balance sheet data for Gurley Corporation in columnar form for 2017. (Round percentages to 1 decimal place, eg, 12.3%.) GURLEY CORPORATION Condensed Balance Sheet dy Amount Percent Assets Current assets $72,600 Property, plant, and equipment (net) 98,600 25,000 $196,200 Total assets Labilities and stockholders' equity Current labilities Long-term liabilities Stockholders equity $40,800 143,000 12,400 $196,200 Total liabilities and stockholders' equity