Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The average price of a gallon of gas in 2013 dropped $0.12 (3 percent) from S3.61 in 2012 (to $3.49 in 2013). Required: 1. Conduct

image text in transcribedimage text in transcribed

The average price of a gallon of gas in 2013 dropped $0.12 (3 percent) from S3.61 in 2012 (to $3.49 in 2013). Required: 1. Conduct a horlzontal analyss by calculating the year-over-year changes In each line litem, 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 billiona) For the Year Ended December 31 Change in DollarsPercentage 2013 2012 Intal Rewenies Costs ot Crude Oil and Products Other Operating Costs Income bcfore Income Tax Expensc Income Tax Exoonse Nel Income 250S 62 121 52 59 37 52 116 57 31 F6 46 S 2-a. Conduct a vertical analysis by expressing each line as a percentage of total revenues. (Round your percentage answers to 1 decimal place.) CHEVRON CORPORATION Income Statements dollars in billions) For the Year Ended December 31 2013 2012 Total Revenues Costs of Crude Oil and Products Other Operating Costs Income before Income Tax Expense Income Tax Expense Net Income S 250 116 57 % S 262 121 52 89 37 % S52 31 $46

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Audit Process Principles Practice And Cases

Authors: Stuart Manson, Iain Gray, Louise Crawford

6th Edition

1408081709, 978-1408081709

More Books

Students also viewed these Accounting questions

Question

Name three tests that can be performed using a sample with EDTA

Answered: 1 week ago

Question

What are some of the hiring standards to avoid?

Answered: 1 week ago

Question

What are some metrics for evaluating recruitment and selection?

Answered: 1 week ago