1 03:30:23 ipped eBook E13-3 (Algo) Preparing and Interpreting a Schedule for Horizontal and Vertical Analyses [LO 13-2, LO 13- 3, LO 13-5] According to the producer price index database maintained by the Bureau of Labor Statistics, the average cost of computer equipment fell 3.8 percent between January and December 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 Computer Tycoon Incorporated for the year ended December 31, 2018. 2-a. Conduct a vertical analysis by expressing each line as a percentage of total revenues. 2-b. Excluding income tax, interest, and operating expenses, did Computer Tycoon earn more gross profit per dollar of sales in 2018 compared to 2017? Het eferences Print Complete this question by entering your answers in the tabs below. Req 11 Req 2A Req 28 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 Computer Tycoon Incorporated for the year ended December 31, 2018. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) COMPUTER TYCOON, INCORPORATED Income Statements For the Year Ended December 31 Change in 2018 2017 Dollars Percentage Sales Revenue $ 114,000 $141,000 % Cost of Goods Sold 67,000 77,100 % Gross Profit 47,000 63,900 % Selling, General, and Administrative Expenses 37,400 39,800 % Interest Expense 640 545 % Income before Income Tax Expense 8,960 Income Tax Expense 2,000 23,555 6,400 % % Net Income $ 6,960 $ 17,155 Req 2A >