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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? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Req 1 Req 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 billions (1.e., 10,000,000,000 should be entered as 10). Round percentage values to 1 decimal place.) Show less INSIGNIA CORPORATION Complete this question by entering your answers in the tabs below. Req 1 Req 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 billions (e., 10,000,000,000 should be entered as 10). Round percentage values to 1 decimal place.) Show less INSIGNIA CORPORATION Incee Statements (amounts in billions) For the Year Ended December 31 2014 2015 $ 123 62 $ 268 154 55 59 Revenues Cost of Crude Oil and Products Other Operating costs Income before Income Tax Expense Income Tax Expense Net Income Change in Dollars Percentage $ (145) (54.0) % (92) (600) % 4 7.0 % (57) (970) % (59) (100.0) % $ (29) (94.0) % 59 2 NON 28 31 s 2 $ Reg 2A > Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Reg 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 Revenues $123 100.0 % $ 268 100.0% Cost of Crude Oil and Products 62 50.4 % 154 125.0 % Other Operating costs 59 48.0 % 55 45.0 % Income before Income Tax Expense 2 2.0 X % 59 48.0 % Income Tax Expense 0.0 % 28 23.0 % Net Income $ 2 2.0 X % $ 31 25.0 % Req1 Reg 28 >