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 $73,000 $78,600 92,000 39,200 $199,000 $209,800 98,800 27,200 Total assets Liabilities and stockholders' equity Current liabilities Long-term liabilities Stockholders' equity $40,400 46,800 145,000 152,000 11,000 $199,000 $209,800 13,600 Total liabilities and stockholders' equity Prepare a horizontal analysis of the balance sheet data for Gurley Corporation using 2016 as a base. (Enter negative amo percentages to 1 decimal place, e.g. 12.3%.) GURLEY CORPORATION Condensed Balance Sheets Increase (Decrease) Percentage Change from 2016 2017 2016 Assets $73,000 $78,600 92,000 39,200 $199,000 $209,800 Current assets 98,800 Property, plant & equipment (net) Intangibles Total assets 27,200 Liabilities and stockholders' Equity Current liabilities $40,400 $46,800 Long-term liabilities 145,000 152,000

Explanation / Answer

HORIZONTAL ANALYSIS: Increase/ Percentage 2017 2016 Decrease Change Assets Current Assets 73000 78600 -5600 -7.12% PP$ E 98800 92000 6800 7.39% intangibles 27200 39200 -12000 -30.61% Total Assets 199000 209800 -10800 -5.15% Liabilities and Stockholder's equity: Current Liabilties 40400 46800 -6400 -13.68% Long terem liabilties 145000 152000 -7000 -4.61% Stockholder's equity 13600 11000 2600 23.64% Total Liabilities & Stockholder's equity 199000 209800 -10800 -5.15% VERTICAL ANALYSIS 2017 PERCENT Assets Current Assets 73000 36.68% PP$ E 98800 49.65% intangibles 27200 13.67% Total Assets 199000 100.00% Liabilities and Stockholder's equity: Current Liabilties 40400 20.30% Long term liabilties 145000 72.86% Stockholder's equity 13600 6.83% Total Liabilities & Stockholder's equity 199000 100.00%

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