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Completing a Horizontal and Vertical Analysis

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(Please see the attached files for the full problem information).
Prepare vertical and horizontal common-size balance sheet and income statement for Valero. Note: Compute for the most recent THREE years. For the Horizontal the base year is 2010.

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Solution Summary

This answer helps to do a horizontal and vertical analysis in the form of a balance sheet and income statement.

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Hi,
(Please see the attached file for the complete solution in Excel).

VALERO ENERGY CORP/TX
10-K
02/28/2013

Balance Sheet

December 31,
2012.00 2011.00 2010.00
ASSETS
Current assets:
Cash and temporary cash investments 3.87% 2.39% 8.86%
Receivables, net 18.36% 20.35% 12.18%
Inventories 13.43% 13.14% 13.15%
Income taxes receivable 0.38% 0.50% 0.91%
Deferred income taxes 0.62% 0.66% 0.51%
Prepaid expenses and other 0.35% 0.29% 0.32%
Total current assets ...

Solution provided by:
Jayant Kumar, MBA
Education
  • MBA, Indian Institute of Finance
  • Bsc, Madras University
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