MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION BACK Exercise 14-3 (Part Level

Question

MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION BACK Exercise 14-3 (Part Level Submission) The comparative condensed balance sheets of Gurley Corporation are presented below. GURLEY CORPORATION Comparative Condensed Balance Sheets December 31 2017 2016 Assets s 74,000 $ 80,000 99,000 90,000 27.000 40.000 $200,000 $210,000 Current assets Property, plant, and equipment (net) Intangibles Total assets Uabilities and stockholders' equity Current liabilities Long-term liabilities Stockholders' equity s 42,000$48,000 143,000 150,000 12,000 Total tiablities and stockholders' equity$200,000 $210,000 15,000 (a) Prepare a horizontal analysis of the balance sheet data for Gurley Corporation using 2016 as a base. (Enter negative amounts and percentages using elther a negative sign preceding the num e.g. (45), (4596). Round percentages to 1 decimal place, e.g. 12.3%.) ber e.g.-45,-45% or parentheses GURLEY CORPORATION Condensed Balance Sheets December 31 Increase (Decrease) 201 2016 Percentage Change from 2016 All Rights Reserved. A Division of 1ohn Wiley &Sons.Ins; Version 4.24.7.7

Explanation / Answer

Increase/Decrease Percentage Change from 2016 Assets Current assets -6000 -7.5% Property palnt and equipment 9000 10% Intangibles -13000 -32.5% TOTAL ASSETS -10000 4.76% Liabilities and stockholders equity Current liabilities -6000 -12.5% Longterm liabilities -7000 -4.67% Stock holders equity 3000 25% TOTAL LIABILITIES AND STOCK HOLDERS EQUITY -10000 -4.76%

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