The comparative condensed balance sheets of Able Corporation are presented below.

ABLE CORPORATION

Comparative Condensed Balance Sheets

December 31

2017 2016

Assets

Current assets $ 72,000 $ 80,000

Property, plant, and equipment (net) 95,400 90,000

Intangibles 33,600 40,000

Total assets $201,000 $210,000

Liabilities and stockholders' equity

Current liabilities $ 40,320 $ 48,000

Long-term liabilities 142,500 150,000

Stockholders' equity 18,180 12,000

Total liabilities and stockholders' equity $201,000 $210,000

Instructions

(a) Prepare a horizontal analysis of the balance sheet data for Able Corporation using 2016 as a base.

(b) Prepare a vertical analysis of the balance sheet data for Able Corporation in columnar form for 2017.