Checi The average price of a gallon of gas in 2015 dropped $0.94 (28 percent) from $3.34 in 2014 (to $2.40 in 2015). 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 Insignia Corporation for the year ended December 31, 2015 (amounts in billions). 2-a. Conduct a vertical analysis by expressing each line as a percentage of total revenues. 2-b. Excluding income tax and other operating costs, did Insignia earn more profit per dollar of revenue in 2015 compared to 2014? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 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 Insignia Corporation for the year ended December 31, 2015 (amounts in billions). (Decreases should be indicated by a minus sign. Enter your answers In bilions (e., 10,000,000,000 should be entered as 10). Round percentage values to 1 decimal place.) ICICAIA rOeDADATION Req 28 Req 1 Req 2A 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 Insignia Corporation for the year ended December 31, 2015 (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 percentage values to 1 decimal place.) INSIGNIA CORPORATION Income Statements (amounts in billions) For the Year Ended December 31 Change in 2015 2014 Dollars Percentage 126 S Revenues 252 Cost of Crude Oil and Products Other Operating Costs Income before Income Tax Expense 63 145 59 53 54 4. Income Tax Expense 41 13 Net Income Req 1 Reg 2A Req 28 Conduct a vertical analysis by expressing each line as a percentage of total revenues. (Round percentage values to 1 decimal place.) INSIGNIA CORPORATION Income Statements (amounts in billions) For the Year Ended December 31 2015 2014 252 Revenues 126 Cost of Crude Oil and Products Other Operating Costs Income before Income Tax Expense Income Tax Expense 63 145 59 53 54 41 Net Income 13