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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 Bronze, Incorporated 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 Bronze 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 Bronze, Incorporated 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 decimal place.) BRONZE, INCORPORATED Income Statements (amounts in billions) For the Year Ended December 31 Revenues Costs of Purchased Crude Oil and Products Other Operating Costs Income before Income Tax Expense Income Tax Expense Net Income $ $ 2018 188 $ 108 57 23 7 16 $ 2017 158 85 63 10 10 Change in Dollars Percentage % % % % % %

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 Bronze, Incorporated 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 Bronze 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 Bronze, Incorporated 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 decimal place.) BRONZE, INCORPORATED Income Statements (amounts in billions) For the Year Ended December 31 Revenues Costs of Purchased Crude Oil and Products Other Operating Costs Income before Income Tax Expense Income Tax Expense Net Income $ $ 2018 188 $ 108 57 23 7 16 $ 2017 158 85 63 10 10 Change in Dollars Percentage % % % % % %

Financial Accounting
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter5: Accounting Systems
Section: Chapter Questions
Problem 25E
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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 Bronze, Incorporated 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 Bronze 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 Bronze, Incorporated 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.) BRONZE, INCORPORATED Income Statements (amounts in billions) For the Year Ended December 31 Revenues Costs of Purchased Crude Oil and Products Other Operating Costs Income before Income Tax Expense Income Tax Expense Net Income $ $ 2018 188 $ 108 57 23 7 16 $ 2017 158 85 63 10 10 Change in Dollars Percentage % % % % % %
Transcribed Image Text: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 Bronze, Incorporated 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 Bronze 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 Bronze, Incorporated 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.) BRONZE, INCORPORATED Income Statements (amounts in billions) For the Year Ended December 31 Revenues Costs of Purchased Crude Oil and Products Other Operating Costs Income before Income Tax Expense Income Tax Expense Net Income $ $ 2018 188 $ 108 57 23 7 16 $ 2017 158 85 63 10 10 Change in Dollars Percentage % % % % % %
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 Bronze, Incorporated 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 Bronze 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 Req 2B Conduct a vertical analysis by expressing each line as a percentage of total revenues. (Round percentage values to 1 decimal place.) BRONZE, INCORPORATED Income Statements (amounts in billions) For the Year Ended December 31 2018 Revenues Costs of Purchased Crude Oil and Products Other Operating Costs Income before Income Tax Expense Income Tax Expense Net Income $ $ 188 108 57 23 7 16 % % % % % % $ $ 2017 158 85 63 10 10 % % % % % %
Transcribed Image Text: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 Bronze, Incorporated 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 Bronze 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 Req 2B Conduct a vertical analysis by expressing each line as a percentage of total revenues. (Round percentage values to 1 decimal place.) BRONZE, INCORPORATED Income Statements (amounts in billions) For the Year Ended December 31 2018 Revenues Costs of Purchased Crude Oil and Products Other Operating Costs Income before Income Tax Expense Income Tax Expense Net Income $ $ 188 108 57 23 7 16 % % % % % % $ $ 2017 158 85 63 10 10 % % % % % %
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