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 $73,000 $ 81,000 97,000 88,200 Property, plant, and equipment (net) 40,200 $209,400 Intangibles 25,200 Total assets $195,200 Liabilities and stockholders' equity $46,000 Current liabilities $ 43,000 136,000 149,400 Long term liabilities Stockholders' equity 16,200 14,000 $195.200 $209,400 Total liabilities and stockholders' equity (a) Prepare a horizontal analvsis of the balance sheet data for Gurley Corporation using 2016 as a base. (Enter negative anounts and nercentages using either a neoative sion GURLEY CORPORATION Condensed Balance Sheets Percentage Change from 2016 Increase (Decrease) 2017 2016 Assets $73,000 $81,000 % Current assets 88,200 97,000 Property, plant & equipment (net) 40,200 25,200 % Intangibles $209,400 $195,200 Total assets Liabilities and stockholders' Equity $46,000 $43,000 Current liabilities 136,000 149,400 % Long-term liabilities 14,000 16,200 Stockholders equity $209,400 $195,200 Total liabilities and stockholders' equity GURLEY CORPORATION Condensed Balance Sheet Percent Amount Assets Current assets $73,000 % Property, plant, and equipment (net) 97,000 % 25,200 Intangibles % $195,200 Total assets % Liabilities and stockholders' equity $43,000 Current liabilities 136,000 Long-term liabilties 16,200 Stockholders' equity % $195,200 Total liabilities and stockholders' equity %