Question

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 your percentage answers 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 Costs of Crude Oil and Products Other Operating Costs Income before Income Tax Expense Income Tax Expense Net Income $ 250262 121 52 89 37 52 116 57 31 46 $ 2-a. Conduct a vertical analysis by expressing each line as a percentage of total revenues. (Round your percentage answers to 1 decimal place.) CHEVRON CORPORATION Income Statements (dollars in billions) For the Year Ended December 31 2013 2012 S 250: 116 57 Total Revenues Costs of Crude Oil and Products Other Operating Costs ncome before Income lax Expense Income Tax Expense Net Income 96 | $ 262 121 52 89 37 90 | $ 52 31 S 46

Answer 1