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Assume the average price of a litre of gas in 2017 jumped $017 (16 percent) from $1.04 in 2016 to $1.21 in 2017 Let's see

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Assume the average price of a litre of gas in 2017 jumped $017 (16 percent) from $1.04 in 2016 to $1.21 in 2017 Let's see whether this change is reflected in the income statement of Suncor Energy Inc. for the year ended December 31, 2017 famounts in billions) 2017 2016 $ 273 $ 221 171 133 59 56 Total Revenues Costs of crude on and Products Other Operating costs Income Before Income Tax Expense Income Tax Expense 43 19 32 1 Net Income $ 24. 519 Required: 1-a. Conduct a horizontal analysis by calculating the year-over-year changes in each line item, expressed in dollars and in percentages (Enter amounts in billions of dollars. Round your percentages to 1 decimal place.) SUNCOR ENERGY INC. Income Statements Change in Dollars Percentage Total revenues 56 Costs of crude oil and products % Other operating costs Costs of crude oil and products Other operating costs Income before income tax Income tax expense Net income 1-b. Not available in Connect 2.n. Conduct a vertical analysis by expressing each line as a percentage of total revenues (Round your answers to 1 decimal places.) SUNCOR ENERGY INC. Income Statements Change in 2017 2016 Total revenues Costs of crude oil and products Other operating costs Income before income tax Income tax expense 9

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