(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.
(Please see the attached file for the complete solution in Excel).
VALERO ENERGY CORP/TX
2012.00 2011.00 2010.00
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 ...
This answer helps to do a horizontal and vertical analysis in the form of a balance sheet and income statement.