Question

please do part a and b please

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 $ 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 $210,800 Study (a) Prepare a horizontal analysis of the balance sheet data for Gurley Corporation using 2016 as a base. (Enter ne number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g GURLEY CORPORATION Condensed Balance Sheets V 2017 Assets 2016 Increase (Decrease) Perce Change

Answer 1

Answer to Part a. GURLEY CORPORATION Condensed Balance Sheets December 31 Increase (Decrease) Percentage change from 2016 2017 2016 73,500 97,600 28,800 199,900 78,600 92,000 40,200 210,800 -5,100 5,600 -11,400 -10,900 -6.5% 6.1% -28.4% -5.2% Assets Current assets Property, plant and equipment (net) Intangibles Total assets Liabilities and Stockholders' Equity Current liabilities Long term liabilities Stockholders' Equity Total Liabilities and stockholders' Equity 40,400 141,000 18,500 199,900 48,200 150,600 12,000 210,800 -7,800 -9,600 6,500 -10,900 -16.2% -6.4% 54.2% -5.2%

Percent Answer to Part b. GURLEY CORPORATION Condensed Balance Sheets December 31, 2017 Amount Assets Current assets 73,500 Property, plant and equipment (net) 97,600 Intangibles 28,800 Total assets 199,900 Liabilities and Stockholders' Equity Current liabilities 40,400 Long term liabilities 141,000 Stockholders' Equity 18,500 Total Liabilities and stockholders' Equity 199,900 36.8% 48.8% 14.4% 100.0% 20.2% 70.5% 9.3% 100.0%