Exercise 14-3 The comparative condensed balance sheets of Gurley are presented b

Question

Exercise 14-3 The comparative condensed balance sheets of Gurley are presented below. GURLEY CORPORATION Comparative Condensed Balance Sheets 31 2017 2016 Assets Current assets Property, plant, and equipment (net) Intangibles 76,000 $ 80,600 89.400 97.900 27,400 38,400 $201/300$208 400 Total assets Liabilities and stockholders' equity Current liabilities Long-term liabilities Stockholders' equity $ 41,200 $46 600 144.200150,400 15.90011.400 $201/300$208 400 Total liabilities and stockholders equity 2 Your answer is correct. ration using 2016 as a base

Explanation / Answer

Vertical analysis Amount percent Assets current assets 76,000 37.8% (76000/201300) Property,plant & Equipment 97,900 48.6% (97900/201300) Intangibles 27,400 13.6% (27400/201300) Total Assets 201,300 100.0% (201300/201300) Liabilities & Stockholder's Equity Current liabilities 41,200 20.5% (41200/201300) Long-term liabilities 144,200 71.6% (144200/201300) Stockholder's Equity 15,900 7.9% (15900/201300) Total liabilities & Stockholder's Equity 201,300 100.0% (201300/201300)

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