CONRAD CORPORATION

                                                             Comparative Condensed Balance Sheets

                                                                                    December 31

                                                                                                                   2012                2011

 Assets

     Current assets                                                                                    $74,000              $80,000

     Property, plant, and equipment (net)                                                    99,000                90,000

     Intangibles                                                                                            27,000                 40,000

         Total assets                                                                                   $200,000            $210,000

 Liabilities and stockholders’ equity

    Current liabilities                                                                                $42,000               $48,000

    Long-term liabilities                                                                            143,000               150,000

    Stockholders’ equity                                                                             15,000                 12,000

         Total liabilities and stockholders’ equity                                       $200,000             $210,000

 Instructions:

 (a) Prepare a horizontal analysis of the balance sheet data for Conrad Corporation using 2011 as a base.

 (b) Prepare a vertical analysis of the balance sheet data for Conrad Corporation in columnar form for 2012.