GURLEY CORPORATION Comparative Condensed Balance Sheets December 31 2017 2016 (a
ID: 2461660 • Letter: G
Question
GURLEY CORPORATION
Comparative Condensed Balance Sheets
December 31
2017
2016
(a)
2017
2016
Increase
(Decrease)
Percentage
Change from 2016
Assets
Current assets
$72,500
$79,200
Property, plant & equipment (net)
99,000
90,200
Intangibles
Total assets
Liabilities and stockholders' Equity
Current liabilities
$40,600
$49,000
Long-term liabilities
140,000
149,600
Stockholders' equity
Total liabilities and stockholders' equity
The comparative condensed balance sheets of Gurley Corporation are presented below.GURLEY CORPORATION
Comparative Condensed Balance Sheets
December 31
2017
2016
Assets Current assets $ 72,500 $ 79,200 Property, plant, and equipment (net) 99,000 90,200 Intangibles 25,600 41,800 Total assets $197,100 $211,200 Liabilities and stockholders’ equity Current liabilities $ 40,600 $ 49,000 Long-term liabilities 140,000 149,600 Stockholders’ equity 16,500 12,600 Total liabilities and stockholders’ equity $197,100 $211,200Explanation / Answer
Particulars 2017 2016 Increase/(Decrease) Percentage change Assets Current assets 72500 79200 -6700 -8.46% Property Plant and equipment 99000 90200 8800 9.76% Intangibles 25600 41800 -16200 -38.76% Total Assets 197100 211200 -14100 -6.68% Liabilities and stockholders equity Current liabilities 40600 49000 -8400 -17.14% Long Term Liabilities 140000 149600 -9600 -6.42% Stockholders Equity 16500 12600 3900 30.95% Total Liabilities and stockholders equity 197100 211200 -14100 -6.68%
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