Business, 05.05.2020 23:11, tjjjjjjjjjjjjjjjjjjj

The average price of a gallon of gas in 2013 dropped $0.12 (3 percent) from $3.61 in 2012 (to $3.49 in 2013).

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 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 percentage values to 1 decimal place.)

CHEVRON CORPORATION
Income Statements
(dollars in billions)
For the Year Ended December 31
Change in
2013 2012 Dollars Percentage
Total Revenues $220 $231 %
Costs of Crude Oil and Products 143 149 %
Other Operating Costs 41 36 %
Income before Income Tax Expense 36 46 %
Income Tax Expense 15 20 %
Net Income $21 $26 %
Conduct a vertical analysis by expressing each line as a percentage of total revenues. (Round percentage values to 1 decimal place.)

CHEVRON CORPORATION
Income Statements
(dollars in billions)
For the Year Ended December 31
2013 2012
Total Revenues $220 % $231 %
Costs of Crude Oil and Products 143 % 149 %
Other Operating Costs 41 % 36 %
Income before Income Tax Expense 36 % 46 %
Income Tax Expense 15 % 20 %
Net Income $21 % $26 %

Answers: 2

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The average price of a gallon of gas in 2013 dropped $0.12 (3 percent) from $3.61 in 2012 (to $3.49...