From the information about Vale Corporation in Figures 22.18 and 22.19, do the following:

a. For each year calculate its current ratio and acid test ratio.
b. For each year prepare the income statement in common-size percentages. (Round to the nearest tenth of a percent.)
c. Prepare a trend analysis of the balance sheet using 2011 as the base year. (Round to the nearestpercent.)

Transcribed Image Text:

VALE CORPORATIO COMPARATIVE INCOME STATEMENT FOR YEARS ENDED DECEMBER 31, 2013, 2012, 2011 2013 2012 2011 Net Sales ost of Goods Sol Gross Profit from Sales 4010101010011 55101010|001 28|O/010100 $4어어(101001S 451010101001 s22|01010100 Operating Expenses Sellin 0o0 General and Administrative Total Operating Expenses Operating Income Before Taxes oolol00 2961010|()() || 3이 이 이어()() || 10|01010|()() Income Taxes Net Income $25 010100 lls 370101010이 $155|0|이()() VALE CORPORATIO COMPARATIVE BALANCE SHEET DECEMBER 31, 2013, 2012, 2011 Assets 2013 2012 2011 Current Assets* Pl 121010100 || SI 2101010|001 s 2410101이00 ant and Equipment Total Assets 120000010 40000 4320ooo $22 400 00 $32oo 800 000 Liabilities and Stockholders' Equity Current Liabilities Common Stock Retained Earnings Total Liabilities and Stockholders Equity 3 240000480000 16000o0 84%)100 1040101001| 40000 11|2|이어00 S43 20000 $2240000 $3200000 Inventory: 2013, $19,200; 2012, $6,720; 2011, $9,600.