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 $ 73,500 $78,200 Property, plant, and equipment (net) 97,100 88,200 Intangibles 27,000 42,000 Total assets $197,600 $208,400 Liabilities and stockholders' equity Current liabilities $ 41,000 $ 48,400 Long-term liabilities 140,000 150,000 Stockholders' equity 16,600 10,000 Total liabilities and stockholders' equity $197,600 $208,400 Prepare a horizontal analysis of the balance sheet data for Gurley Corporation using 2016 as a base. (Enter negative amounts and percenta number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to I decimal place, e.g. 12.396) GURLEY CORPORATION Condensed Balance Sheets Increase (Decrease) Percentage Change from 2016 2017 2016 Assets 9 $73,500 $78/200 Current assets Time 05:59 Rem (a) Prepare a horizontal analysis of the balance sheet data for Gurley Corporation using 2016 as a base. (Enter negative amounts and percentages using eith number e.g. -45, -45% or parentheses e.. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%) GURLEY CORPORATION Condensed Balance Sheets Increase (Decrease) Percentage Change from 2016 2017 2016 Assets $73,500 Current assets 96 $78,200 97,100 88,200 Property, plant & equipment (net) 27,000 42,000 Intangibles $197.500 $208,400 Total assets 5 Liabilities and stockholders' Equity $41,000 $48,400 $ Current liabilities 140,000 150,000 Long-term fiabilities 16,600 10,000 Stockholders equity $197,600 $208,400 $ Total liabilities and stockholders' equity (b) Prepare a vertical analysis of the balance sheet data for Gurley Corporatlon in columnar form for 2017. (Round percentages to : decinal place, 6.9. 12.3 (b) Prepare a vertical analysis of the balance sheet data for Gurley Corporation in columnar form for 2017. (Round percentages to I decimal place ... 12.39) GURLEY CORPORATION Condensed Balance Sheet Amount Percent Assets Current assets $73,500 Property, plant, and equipment (net) 97,100 Intangibles 27,000 % $197,600 96 Total assets Liabilities and stockholders' equity Current liabilities $41,000 96 06 140,000 Long-term liabilities Stockholders' equity 16,600 90 $197,600 96 Total liabilities and stockholders' equity LINK TO TEXT