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 $ 76,000 $79,400 99,00089,600 27,80038,000 $202,800 $207,000 Total assets Liabilities and stockholders' equity Current liabilities Long-term liabilities Stockholders equity $41,00049,600 144,800150,000 7,400 Total liabilities and stockholders' equity$202,800 $207,000 17,000