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. 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 Tiger Industries for the year ended December 31, 2018 (amounts in billions). Note: 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 A TIGER INDUSTRIES Income Statements (amounts in billions) For the Year Ended December 31 Change in 2018 2017 Dollars Percentage Revenues $ 185 $ 156 % Costs of Purchased Crude Oil and Products 106 83 % Other Operating Costs 56 63 % Income before Income Tax Expense 23 10 % Income Tax Expense 7 % Net Income 16 $ 10 % Req 1 Req 2A > Req 1
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. 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 Tiger Industries for the year ended December 31, 2018 (amounts in billions). Note: 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 A TIGER INDUSTRIES Income Statements (amounts in billions) For the Year Ended December 31 Change in 2018 2017 Dollars Percentage Revenues $ 185 $ 156 % Costs of Purchased Crude Oil and Products 106 83 % Other Operating Costs 56 63 % Income before Income Tax Expense 23 10 % Income Tax Expense 7 % Net Income 16 $ 10 % Req 1 Req 2A > Req 1
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 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.
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 Tiger Industries for the year ended December 31, 2018 (amounts in billions).
Note: 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 A
TIGER INDUSTRIES
Income Statements
(amounts in billions)
For the Year Ended December 31
Change in
2018
2017
Dollars
Percentage
Revenues
$
185 $
156
%
Costs of Purchased Crude Oil and Products
106
83
%
Other Operating Costs
56
63
%
Income before Income Tax Expense
23
10
%
Income Tax Expense
7
%
Net Income
16 $
10
%
Req 1
Req 2A >
Req 1
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