Question

The comparative condensed balance sheets of Gurley Corporation are presented below.

GURLEY CORPORATION Comparative Condensed Balance Sheets December 31
		2017		2016
Assets
Current assets		$ 73,800		$ 79,400
Property, plant, and equipment (net)		97,100		91,200
Intangibles		27,400		40,200
Total assets		$198,300		$210,800
Liabilities and stockholders’ equity
Current liabilities		$ 40,400		$ 49,200
Long-term liabilities		143,200		148,000
Stockholders’ equity		14,700		13,600
Total liabilities and stockholders’ equity		$198,300		$210,800

b)

Prepare a vertical analysis of the balance sheet data for Gurley Corporation in columnar form for 2017.

Answer 1

Ans. B	GURLEY   CORPORATION
	Comparative Condensed Balance Sheet
	31-Dec
		Amount	Percent
	Assets
	Current assets	$73,800	37.2%
	Property, plant and equipment (net)	$97,100	49.0%
	Intangibles	$27,400	13.8%
	Total assets	$198,300	100.0%
	Liabilities and Owner's Equity
	Current liabilities	$40,400	20.4%
	Long term liabilities	$143,200	72.2%
	Stockholder's equity	$14,700	7.4%
	Total Liabilities and stockholder's equity	$198,300	100.0%
	*Calculations for Common Size Balance Sheet:
	Amount is percentage from assets side (2017) =   Particular amount from assets side (2017) / Total assets (2017) * 100
	Amount is percentage from liabilities side (2017) =   Particular amount from liability side (2017)/ Total liabilities and owner's equity (2017) * 100