Question 1 The comparative condensed balance sheets of Gurley Corporation are pr

Question

Question 1 The comparative condensed balance sheets of Gurley Corporation are presented below. GURLEY CORPORATION Comparative Condensed Balance Sheets December 31 2017 2016 Assets Current assets Property, plant, and equipment (net) Intangibles $ 76,000 $79,400 99,00089,600 27,80038,000 $202,800 $207,000 Total assets Liabilities and stockholders' equity Current liabilities Long-term liabilities Stockholders equity $41,00049,600 144,800150,000 7,400 Total liabilities and stockholders' equity$202,800 $207,000 17,000

Explanation / Answer

Using horizontal analysis :

Using vertical analysis :

2017 2016 Increase (decrease) Percent change Assets Current Assets 76000 79400 -3400 -4.3% Property, plant and equipment (net) 99000 89600 9400 10.5% Intangibles assets 27800 38000 -10200 -26.8% Total assets 202800 207000 -4200 -2.0% Liabilities and stockholder's equity Current liabilities 41000 49600 -8600 -17.3% Long term liabiltiies 144800 150000 -5200 -3.5% Stockholder's equity 17000 7400 9600 129.7% Total Liabilities and stockholder's equity 202800 207000 -4200 -2.0%

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