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 Tiger 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 Tiger earn 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 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 Tiger 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.) Show less TIGER INDUSTRIES Income Statements (amounts in billions) For the Year Ended December 31 2018 2017 Change in Dollars Percentage $ $ 293 168 248 133 % 88 % Revenues Costs of Purchased Crude Oil and Products Other Operating Costs Income before Income Tax Expense Income Tax Expense Net Income 100 15 37 % 11 % $ 26 $ 15 % Reg 1 Req 2A Req 2B Conduct a vertical analysis by expressing each line as a percentage of total revenues. (Round percentage values to 1 decimal place.) 2017 TIGER INDUSTRIES Income Statements (amounts in billions) For the Year Ended December 31 2018 Revenues $ 293 Costs of Purchased Crude Oil and Products 168 Other Operating Costs 88 Income before Income Tax Expense 37 Income Tax Expense 11 Net Income $ 26 GA % 248 133 100 % $ % % % % $ 15 % % % % % 15 Reg 1 Reg 2A Reg 2B Excluding income tax and other operating costs, did Tiger earn more gross profit per dollar of revenue in 2018 compared to 2017? Yes No