The comparative condensed balance sheets of Gurley Corporation are presented below. GURLEY CORPORATION Comparative Condensed Balance Sheets December 31 2017 2016 Assets Current assets $ 72,600 $ 78,800 Property, plant, and equipment (net) 98,600 88,000 Intangibles 25,000 38,400 Total assets $196,200 $205,200 Liabilities and stockholders equity Current liabilities $ 40,800 $ 48,200 Long-term liabilities 143,000 148,800 Stockholders equity 12,400 8,200 Total liabilities and stockholders equity $196,200 $205,200 (a) Prepare a horizontal analysis of the balance sheet data for Gurley Corporation using 2016 as a base. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.) GURLEY CORPORATION Condensed Balance Sheets 2017 2016 Increase (Decrease) Percentage Change from 2016 Assets Current assets $72,600 $78,800 $ % Property, plant & equipment (net) 98,600 88,000 % Intangibles 25,000 38,400 % Total assets $196,200 $205,200 $ % Liabilities and stockholders' Equity Current liabilities $40,800 $48,200 $ % Long-term liabilities 143,000 148,800 % Stockholders' equity 12,400 8,200 % Total liabilities and stockholders' equity $196,200 $205,200 $ % (b) Prepare a vertical analysis of the balance sheet data for Gurley Corporation in columnar form for 2017. (Round percentages to 1 decimal place, e.g. 12.3%.) GURLEY CORPORATION Condensed Balance Sheet Amount Percent Assets Current assets $72,600 % Property, plant, and equipment (net) 98,600 % Intangibles 25,000 % Total assets $196,200 % Liabilities and stockholders' equity Current liabilities $40,800 % Long-term liabilities 143,000 % Stockholders' equity 12,400 % Total liabilities and stockholders' equity $196,200 %