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		$ 73,800		$ 79,400
Property, plant, and equipment (net)		97,100		91,200
Intangibles		27,400		40,200
Total assets		$198,300		$210,800
Liabilities and stockholders equity
Current liabilities		$ 40,400		$ 49,200
Long-term liabilities		143,200		148,000
Stockholders equity		14,700		13,600
Total liabilities and stockholders equity		$198,300		$210,800

(a) Prepare a horizontal analysis of the balance sheet data for Gurley Corporation using 2016 as a base