Exercise 18-3 The comparative condensed balance sheets of Gurley Corporation are
ID: 2608702 • Letter: E
Question
Exercise 18-3 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 $ 72,400 $78,600 92,000 41,000 $195,500 $211,600 97,700 25,400 Total assets Liabilities and stockholders' equity Current liabilities Long-term liabilities Stockholders' equity $42,800 $49,800 40,200 151,000 10,800 $195,500 $211,600 12,500 Total liabilities and stockholders' equityExplanation / Answer
GURLEY CORPORATION HORIZENTAL ANALYSIS 2017 (A) 2016 (B) Increase (Decrease)(C') % changes from (2016) Remarks Assets Current Assets $ 72,400 $ 78,600 $ -6,200 -7.89% (C / B) X 100 Property, plant & Equipment $ 97,700 $ 92,000 $ 5,700 6.20% (C / B) X 100 Intangibles $ 25,400 $ 41,000 $ -15,600 -38.05% (C / B) X 100 Total Assets $ 1,95,500 $ 2,11,600 $ -16,100 -7.61% (C / B) X 100 Liabilities and Equities Current Liabilities $ 42,800 $ 49,800 $ -7,000 -14.06% (C / B) X 100 Long Term Liabilities $ 1,40,200 $ 1,51,000 $ -10,800 -7.15% (C / B) X 100 Stochholders Equity $ 12,500 $ 10,800 $ 1,700 15.74% (C / B) X 100 Total Liability and Equity $ 1,95,500 $ 2,11,600 $ -16,100 -7.61% (C / B) X 100 GURLEY CORPORATION VERTICAL ANALYSIS HORIZENTAL ANALYSIS FOR THE YEAR 2017 AMOUNT PERCENTAGE Assets Current Assets $ 72,400 37.0% Property, plant & Equipment $ 97,700 50.0% Intangibles $ 25,400 13.0% Total Assets $ 1,95,500 100.0% Liabilities and Equities Current Liabilities $ 42,800 21.9% Long Term Liabilities $ 1,40,200 71.7% Stochholders Equity $ 12,500 6.4% Total Liability and Equity $ 1,95,500 100.0%
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