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 $ 73,000 97,000 25,200 $195,200 $ 81,000 88,200 40,200 $209,400 Current assets Property, plant, and equipment (net) Intangibles Total assets Liabilities and stockholders' equity Current liabilities Long-term liabilities Stockholders' equity Total liabilities and stockholders' equity $ 43,000 136,000 16,200 $195,200 $ 46,000 149,400 14,000 $209,400 (a) Prepare a horizontal analysis of the balance sheet data for Gurley Corporation using 2016 as a base. (Enter negative amounts and percentages to 1 decimal place, e.g. 12.3%.) GURLEY CORPORATION Condensed Balance Sheets 2017 2016 Increase (Decrease) Percentage Change from 2016 Assets Current assets $73,000 $81,000 $ 9 Property, plant & equipment (net) 97,000 88,200 % Intangibles 25,200 40,200 96 Total assets $195,200 $209,400 % Liabilities and stockholders' Equity Current liabilities $43,000 $46,000 $ % Long-term liabilities 136,000 149,400 9% Stockholders' equity 16,200 14,000 % Total liabilities and stockholders' equity $195,200 $209,400 % ch Prepare a vertical analysis of the balance sheet data for Gurley Corporation in columnar form for 2017. ( GURLEY CORPORATION Condensed Balance Sheet Amount Percent Assets Current assets $73,000 % Property, plant, and equipment (net) 97,000 % Intangibles 25,200 % Total assets $195,200 % Liabilities and stockholders' equity Current liabilities $43,000 % Long-term liabilities 136,000 % Stockholders' equity 16,200 % Total liabilities and stockholders' equity $195,200 % Click if you would like to Show Work for this question: Open Show Work