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alo inc. has seen a significant amount of growth over the three recent fiscal years shown below. The following selected information is available: alo inc Statement of Financial Position February 2, 2019, January 28, 2018, January 27, 2017 (in U.S. $ millions) Assets 2019 2018 2017 Current assets $1,429 $1,436 $1,163 Non-current assets 656 562 495 Total assets $2,085 $1,998 $1,658 Liabilities and Shareholders' Equity Current liabilities $ 500 $ 293 $ 242 Non-current liabilities 139 108 56 Total liabilities 639 401 298 Shareholders' equity 1,446 1,597 1,360 Total liabilities and shareholders' equity $2,085 $1,998 $1,658 alo inc Statement of Comprehensive Income Years Ended February 2, 2019, January 28, 2018, January 27, 2017 (in U.S. $ millions) 2019 2018 2017 Sales Cost of goods sold Gross profit $3,288 $2,649 $2,344 1,472 1,250 1,145 1,816 1,399 1,199 Operating expenses 1,110 943 778 706 456 421 9 4 N 715 460 423 Income from operations Other income Income before income tax Income tax expense Net income Other comprehensive income (loss) Comprehensive income 231 201 119 484 259 304 (74) 58 36 $410 $317 $340 Instructions a. Using horizontal analysis, calculate the percentage of the base-year amount for each of the statement of financial position and statement of income items, assuming 2017 is the base year. b. Using horizontal analysis, calculate the horizontal percentage change in 2019 and 2018 for each of the statement of financial position and statement of income items. Identify the key components in alo's statement of financial position and statement of income that are primarily responsible for the change in the company's financial position and performance over the three-year period