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10.00 points The average price of a gallon of gas in 2013 dropped S0.12 (3 percent) from 53.61 in 2012 (to $3.49 in 2013) Required:
10.00 points The average price of a gallon of gas in 2013 dropped S0.12 (3 percent) from 53.61 in 2012 (to $3.49 in 2013) Required: 1. Conduct a horizontal analysis by calculating the year-over-year changes in each line item, expressed in dollars and in percentages for the income statement of Chevron Corporation for the year ended December 31, 2013 (amounts in billions). (Decreases should be indicated by a minus sign. Enter your answers in billions (i.e., 10,000,000,000 should be entered as 10). Round your percentage answers to 1 decimal place.]) Income Statements (dollars in billions) For the Year Ended December 31 Change in 2013 2012 Dollars 5 300313 124 Costs of Crude Oil and Products Other Operating Costs Income before Income Tax Expense Income Tax Expense Net Income 119 59 137 122 28 32 96105 2-a. Conduct a vertical analysis by expressing each line as a percentage of total revenues. (Round your percentage answers to 1 decimal place.) (dollars in billions) For the Year Ended December 31 2012 2013 5 300 119 %| $ 313 124 Costs of Crude Oil and Products Other Operating Costs Income before Income Tax Expense Income Tax Expense Net Income 122 26 5 96 137 %| $ 105 2-b. Excluding income tax and other operating costs, did Chevron earn more profit per dollar of revenue in 2013 compared to 2012? O Yes O No
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