GURLEY CORPORATION Comparative Condensed Balance Sheets December 31 2017 2016 20
ID: 2529210 • Letter: G
Question
GURLEY CORPORATION
Comparative Condensed Balance Sheets
December 31
2017
2016
2017
2016
Increase
(Decrease)
Percentage
Change from 2016
Assets
Current assets
$73,500
$78,600
Property, plant & equipment (net)
97,600
92,000
Intangibles
Total assets
Liabilities and stockholders' Equity
Current liabilities
$40,400
$48,200
Long-term liabilities
141,000
150,600
Stockholders' equity
Total liabilities and stockholders' equity
LINK TO TEXT
Amount
Percent
Assets
Current assets
$73,500
Property, plant, and equipment (net)
97,600
Intangibles
Total assets
Liabilities and stockholders' equity
Current liabilities
$40,400
Long-term liabilities
141,000
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 $ 73,500 $ 78,600 Property, plant, and equipment (net) 97,600 92,000 Intangibles 28,800 40,200 Total assets $199,900 $210,800 Liabilities and stockholders’ equity Current liabilities $ 40,400 $ 48,200 Long-term liabilities 141,000 150,600 Stockholders’ equity 18,500 12,000 Total liabilities and stockholders’ equity $199,900 $210,800Explanation / Answer
Horizontal analysis of the balance sheet data for Gurley Corporation using 2016 as a base is as prepared below:
vertical analysis of the balance sheet data for Gurley Corporation in columnar form for 2017.
GURLEY CORPORATION Condensed Balance Sheets For the Year Ended December 31 2017 2016 Increase Percentage (Decrease) Change from 2016 Assets Current assets 73,500 78,600 -5100 -6.5% Property, plant & equipment (net) 97,600 92,000 5600 6.1% Intangibles 28,800 40,200 -11400 -28.4% Total assets 1,99,900 2,10,800 -10900 -5.2% Liabilities and stockholders' Equity Current liabilities 40,400 48,200 -7800 -16.2% Long-term liabilities 1,41,000 1,50,600 -9600 -6.4% Stockholders' equity 18,500 12,000 6500 54.2% Total liabilities and stockholders' equity 1,99,900 2,10,800 -10900 -5.2%Related Questions
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