According to the producer price Index database malntalned 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 tem, 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? Complete this question by entering your answers in the tabs below. Rey 1 Req 2A Reg 26 Conduct a horizontal analysis by calculating the year-over-year changes in each line item, expressed in dollars and in a 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 $ 108,000 $ 129,000 96 Cost of Goods Sold 63.000 73.900 Gross Profit 43,000 55,100 % Seling, General, and Administrative Expenses 38.800 38,200 Interest Expense 580 505 96 Income before Income Tax Expense 5,840 18,395 96 Income Tax Expense 1,500 5,800 Net Income $ 4,340 $ 10,795 % Re Req 2A > Conduct a vertical analysis by expressing each line as a percentage of total revenues. (Round percentage values to 1 decimal place.) S % COMPUTER TYCOON, INCORPORATED Income Statements For the Year Ended December 31 2018 Sales Revenue S 106.000 Cost of Goods Sold 63.000 Gross Profit 43,000 Seling, General, and Administrative Expenses 36,800 Interest Expense 560 Income before Income Tax Expense 5.840 Income Tax Expense 1.500 Net Income S 4,340 % % % %. % 2017 129,000 73.900 55,100 38,200 505 16,395 5,600 10,795 % 9 9 % % S Excluding income tax, interest, and operating expenses, did Computer Tycoon earn more gross profit per dollar of sales in 2018 compared to 2017? Yes No