The comparative condensed balance sheets of Gurley Corporation are presented bel
ID: 2522403 • Letter: T
Question
The comparative condensed balance sheets of Gurley Corporation are presented below.
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%.)
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 Comparative Condensed Balance Sheets December 31 2017 Assets Current assets Property, plant, and equipment (net) Intangibles 73,000 78,600 92,000 27,200 39,200 $ 199,000 209,800 98,800 Total assets Liabilities and stockholders' equity Current liabilities Long-term liabilities Stockholders' equity $40,400 46,800 145,000 152,000 11,000 13,600Explanation / Answer
a GURLEY CORPORATION Condensed Balance Sheets December 31 2017 2016 Increase(Decrease) % change from 2016 Assets Current Assets 73000 78600 -5600 -7.1% Property, Plant & Equipment (net) 98800 92000 6800 7.4% Intangibles 27200 39200 -12000 -30.6% Total assets 199000 209800 -10800 -5.1% Liabilities and Stockholders' Equity Current Liabilities 40400 46800 -6400 -13.7% Long-term Liabilities 145000 152000 -7000 -4.6% Stockholders' Equity 13600 11000 2600 23.6% Total liabilities and stockholders' equity 199000 209800 -10800 -5.1% b GURLEY CORPORATION Condensed Balance Sheets December 31, 2017 Assets Amount Percent Current Assets 73000 36.7% Property, Plant & Equipment (net) 98800 49.6% Intangibles 27200 13.7% Total assets 199000 100.0% Liabilities and Stockholders' Equity Current Liabilities 40400 20.3% Long-term Liabilities 145000 72.9% Stockholders' Equity 13600 6.8% Total liabilities and stockholders' equity 199000 100.0%