The average price of a litre of gas in 2011 jumped $0.17 (16 percent) from $1.04 in 2010 to $1.21 in 2011. Let's see whether these changes are reflected in the income statement of Suncor Energy Inc. for the year ended December 31, 2011 (amounts in billions).

Required
1. Conduct a horizontal analysis by calculating the year-over-year changes in each line item, expressed in dollars and in percentages (rounded to one decimal place). How did the change in gas prices compare to the changes in Suncor's total revenues and costs of crude oil and products?
2. Conduct a vertical analysis by expressing each line as a percentage of total revenues (round to one decimal place). Excluding income tax and other operating costs, did Suncor earn more profit per dollar of revenue in 2011 compared to 2010?

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2011 2010 $273 Total Revenues Costs of Crude Oil and Products Other Operating Costs Income before Income Tax Expense Income Tax Expense Net Income $221 171 59 133 56 32 13 43 19 $ 24 $ 19