Question 1 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 $ 74,500 80,400 88,000 38,200 $198,300 $206,600 98,800 25,000 Total assets Liabilities and stockholders' equity Current liabilities Long-term liabilities Stockholders' equity $42,600 47,200 150,600 8,800 $198,300 $206,600 142,000 13,700 Total liabilities and stockholders' equity