The comparative condensed balance sheets of Gurley Corporation are presented below. (a) Prepare a horizontal analysis of the balance sheet data for Gurley Corporation using 2016 as a base. (b) Prepare a vertical analysis of the balance sheet data for Gurley Corporation in columnar form for 2017.

GURLEY CORPORATION Comparative Condensed Balancesheets December 31 2016 2017 Assets 75,200 81,200 Current assets 98,100 88,800 Property, plant, and equipment (net) 38,600 Intangibles 25,400 198,700 208,600 Total assets Liabilities and stockholders' equity Current liabilities 41,800 48,000 Long-term liabilities 143,600 151,400 13,300 9,200 Stockholders' equity 198,700 208,600 Total liabilities and stockholders' equity