The average price of a gallon of gas In 2018 increased $0.30 (12.4 percentfrom $2.42 in 2017 to $272 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 Fawkes Manufacturing 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. 2b. Excluding income tax and other operating costs, did Fawkes eam more gross profit per dollar of revenue in 2018 compared to 2017? Complete this question by entering your answers in the tabs below. Reg 1 Red 2A Reg 28 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 Fawkes Manufacturing 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.) Show less FAWKES MANUFACTURING Income Statements (amounts in bilions) For the Year Ended December 31 2018 2017 Change in Dollars Percentage S 172 75 9 92 89 Revenues Costs of Purchased Crude Oil and Products Other Operating costs Income before Income Tax Expense Income Tax Expense Net Income 204 $ 117 61 28 7 19 $ 11 S 11 Req Req 2A > The average price of a gallon of gas in 2018 increased $0.30 (12.4 percent from $2.42 in 2017 to $272 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 Fawkes Manufacturing for the year ended December 31, 2018 (amounts in billons). 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 Fawkes eam more gross profit per dollar of revenue in 2018 compared to 2017? Complete this question by entering your answers in the tabs below. Reg 1 Red 2A Req 28 Conduct a vertical analysis by expressing each line as a percentage of total revenues. (Round percentage values to 1 decimal place.) 2017 FAWKES MANUFACTURING Income Statements (amounts in billions) For the Year Ended December 31 2018 Revenues $ 204 Costs of Purchased Crude Oil and Products 117 Other Operating costs 81 Income before Income Tax Expense 26 Income Tax Expense 7 Net Income $ 19 $ 172 % %. %. 9. 9. 96 92 89 11 %. % 9 $ 11 95 The average price of a gallon of gas in 2018 increased $0.30 (12.4 percent) from $2.42 in 2017 to $272 in 2018. Required: 1. Conduct a horizontal analysis by calculating the year-over-year changes in each line tem, expressed in dollars and in percentages for the income statement of Fawkes Manufacturing 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. 2-5. Excluding income tax and other operating costs, did Fawkes eam more gross profit per dollar of revenue in 2018 compared to 2017 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Req 25 Excluding income tax and other operating costs, did Fawkes earn more gross profit per dollar of revenue in 2018 compared to 2017? Yes No
