The average price of a gallon of gas in 2015 dropped $0.94 (28 percent) from $3.34 In 2014 (to $2.10 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. Regi Req ZA Reg 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 Revenue 3 125 1000 $ Cost of Crude Oil and Products 63 50.0% Other Operating costs 61 % Income before Income Tax Expense 1 Income Tax Expense 0 Net Income $ 0.0% 5 2014 255 147 55 53 100.01% % % 35 18 RC PAR get this question by entering your answers in the tabs below. Reg Reg 2 Reg 20 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 ind hated by a minus sign. Enter your answers in billions ( 10,000,000,000 should be entered as 10). Round percentage vagies to 1 decimal place.) Show less INSIGNIA CORPORATION Income Statements amounts in billions) For the Year Ended December 31 Revenues Cost of Crude Oil and Products Other Operating Costs Income before Income Tax Expense Income Tax Expense Net Income 2015 S 125 63 61 1 o $ 1 2014 S 255 147 55 53 Change in Dollars Percentage % % % 4 35 18 $ % Req2A)