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
$ 72,500
$ 79,200
Property, plant, and equipment
(net)
99,000
90,200
Intangibles
25,600
41,800
Total assets
$197,100
$211,200
Liabilities and stockholders’ equity
Current liabilities
$ 40,600
$ 49,000
Long-term liabilities
140,000
149,600
Stockholders’ equity
16,500
12,600
Total liabilities and
stockholders’ equity
$197,100
$211,200
(a)
Prepare a horizontal analysis of the balance sheet data for...