Assume the average price of a litre of gas in 2017 jumped $0.17 (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 (amounts in billions). Total Revenues costs of Crude Oil and Products Other Operating costs 2017 2016 $ 273 $ 221 171 133 59 56 Income Before Income Tax Expense Income Tax Expense 43 19 ow 32 13 $ 24 $ 19 Net Income 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 $ 52 23.5 % Costs of crude oil and products 38 28.6 % 3 5.4 % Other operating costs 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 $ 52 23.5 % Total revenues 38 28.6 % 3 5.4 % Costs of crude oil and products Other operating costs Income before income tax 11 34.4 % 46.2 % 6 Income tax expense 26.3 % 5 $ Net income 1-b. Not available in Connect. 2-a. Conduct a vertical analysis by expressing each line as a percentage of total revenues. (Round your answers to 1 decimal places.) SUNCOR ENERGY INC. ed Income Statements Change in 2017 2016 Total revenues 273.0 X % 221.0 X % 133.0 X % Costs of crude oil and products Other operating costs Income before income tax 171.0 X % 59.0 X % 43.0 X % 56.0 X % 32.0 X % Income tax expense 19.0 % 13.0 % Net income 24.0 X % 19.0 X %