GURLEY CORPORATION Comparative Condensed Balance Sheets December 31 2017 2016 As

Question

GURLEY CORPORATION Comparative Condensed Balance Sheets December 31 2017 2016 Assets Current assets Property, plant, and equipment (net) Intangibles $ 74,600 $ 81.200 97.40092,000 25,200 41,000 $197,200 $214,200 Total assets Liabilities and stockholders' equity Current liabilities Long-term liabilities Stockholders' equity $39,600$48.800 141,200149,600 15,800 $197.200 $214,200 16,400 Total liabilities and stockholders' equity Prepare a horizontal analysis of the balance sheet data for Gurley Corporation using 2016 as a base. (Enter negative amou e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.) GURLEY CORPORATION Condensed Balance Sheets Increase (Decrease) Percentage Change from 2016 2017 2016 Assets Current assets $74,600$81,200 Property, plant & equipment (net) Intangibles Total assets 97,400 92,000 25,20041,000 $197,200 $214,200 Liabilities and stockholders' Equity Current liabilities $39,600 $48,800 s 141,200 149,600 15,800 $197,200 $214.200 Long-term liabilities 16,400 Total liabilities and stockholders' equity

Explanation / Answer

GURLEY CORPORATION Condensed Balance Sheets December 31 2017 2016 Increase (Decrease) Percentage Change from 2016 Assets Current assets 74600 81200 -6600 -8.1% Property, plant & equipment (net) 97400 92000 5400 5.9% Intangibles 25200 41000 -15800 -38.5% Total assets 197200 214200 -17000 -7.9% Liabilities and stockholders' Equity Current liabilities 39600 48800 -9200 -18.9% Long-term liabilities 141200 149600 -8400 -5.6% Stockholders' equity 16400 15800 600 3.8% Total liabilities and stockholders' equity 197200 214200 -17000 -7.9%

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