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The average price of a gallon of gas in 2018 increased $0.30 (12.4 percent) from $2.42 in 2017 to $2.72 in 2018. Required: 1.

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The average price of a gallon of gas in 2018 increased $0.30 (12.4 percent) from $2.42 in 2017 to $2.72 in 2018. 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 Daisy Petrolum Industries for the year ended December 31, 2018 (amounts in billions). 2-a. Conduct a vertical analysis by expressing each line as a percentage of total revenues. 2-b. Excluding income tax and other operating costs, did Daisy earn more gross profit per dollar of revenue in 2018 compared to 2017? Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B 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 Daisy Petrolum Industries for the year ended December 31, 2018 (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 percentage values to 1 decimal place.) DAISY PETROLUM INDUSTRIES Income Statements (amounts in billions) For the Year Ended December 31 Change in 2018 2017 Dollars Percentage Revenues $ 290 $ 246 % Costs of Purchased Crude Oil and Products 166 132 % Other Operating Costs 87 99 % Income before Income Tax Expense 37 15 % Income Tax Expense 11 % Net Income $ 26 $ 15 % < Req 1 Req 2A >

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