Assume the average cost of computer equipment fell 24.0 percent between 2016 and 2017 Let's see whether these changes are reflected in the income statement of Computer Tycoon Inc. for the year ended December 31, 2017 2017 $99, 300 61,300 2016 $127,524 76,514 Sales Revenues Cost of Goods Sold Gross Profit Selling, General, and Administrative Expenses Interest Expense Incone Before Income Tax Expense Income Tax Expense 38,000 31,100 574 51,010 31,100 420 6,326 3,585 19,490 6,260 Net Income $ 2,741 $ 13,230 Required: 1-0. Conduct a horizontal analysis by calculating the year-over-year changes in each line item expressed in dollars and in percentages (Round your "Percentage" to 1 decimal place. Any decrease in amounts should be indicated with minus sign) COMPUTER TYCOON INC. Horizontal Analysis of Income Statements For the Years Ended December 31 Change in Required: 1-6. Conduct a horizontal analysis by calculating the year-over-year changes in each line item, expressed in dollars and in percentages. (Round your "Percentage" to 1 decimal place. Any decrease in amounts should be indicated with minus sign) COMPUTER TYCOON, INC. Horizontal Analysis of Income Statements For the Years Ended December 31 Change in Dollars Percentage $ 95 20 Sales revenues Costs of goods sold Gross profit Selling. General, and Administrative expenses Interest expense Income before income tax expense Income tax expense Net income 2017 99 300 5 61,300 38,000 31,100 574 6,326 3,585 2.741 $ 2016 127,524 76,514 51,010 31.100 420 19.490 6.260 13,230 $ a 2-a. Conduct a vertical analysis by expressing each line as a percentage of total revenues (Round your a Input all amounts as positive values.) % COMPUTER TYCOON, INC. Vertical Analysis of Income Statements For the Years Ended December 31 2017 Sales revenues $ 99 300 Costs of goods sold 61,300 Gross profit 38,000 Selling. General, and Administrative expenses 31.100 Interest expense 574 Income before income tax expense 6,326 Income tax expense 3,585 2.741 Net Income % 2016 % $ 127,524 96 76,514 96 51,010 % 31.100 420 % 19.490 % 6,260 9 $ 13 230 % 96 $ Excluding income tax, Interest, and selling, general, and administrative expenses, did Computer Tycoon earn more profit per dollar ales in 2017 compared to 2016? Yes