The comparative condensed balance sheets of Gurley Corporation are presented on below.

Instructions
(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 Balance Sheets December 31 2017 2016 Assets $ 74,000 $ 80,000 90,000 Current assets Property, plant, and equipment (net) Intangibles 99,000 27,000 40,000 Total assets $200,000 $210,000 Liabilities and stockholders' equity Current liabilities $ 42,000 $ 48,000 Long-term liabilities Stockholders' equity 143,000 15,000 150,000 12,000 Total liabilities and stockholders' equity $200,000 $210,000