E13-1 (Algo) Preparing and Interpreting a Schedule for Horizontal and Vertical Analyses [LO 13-2, LO 13- 3, LO 13-5) The average price of a gallon of gas in 2018 increased $0.30 (12.4 percent) from $2.42 in 2017 to $2.72 in 2018. 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 Mango Corporation for the year ended December 31, 2018 (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 Mango earn more gross profit per dollar of revenue in 2018 compared to 2017? Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B 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 Mango Corporation for the year ended December 31, 2018 (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.) MANGO CORPORATION Income Statements (amounts in billions) For the Year Ended December 31 2018 2017 Change in Dollars Percentage % % $ 274 $ 232 124 157 83 93 % Revenues Costs of Purchased Crude Oil and Products Other Operating Costs Income before Income Tax Expense Income Tax Expense Net Income 34 15 % 10 24 $ % % $ 15 E13-1 (Algo) Preparing and Interpreting a Schedule for Horizontal and Vertical Analyses (LO 13-2, LO 13 3, LO 13-5) The average price of a gallon of gas in 2018 increased $0.30 (12.4 percent) from $2.42 in 2017 to $2.72 in 2018. Required: 1. Conduct a horizontal analysis by calculating the year-over-year changes in each line item, expressed in dollars and in percentag for the income statement of Mango Corporation for the year ended December 31, 2018 (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 Mango earn more gross profit per dollar of revenue in 2018 compared to 2017? Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Conduct a vertical analysis by expressing each line as a percentage of total revenues. (Round percentage values to 1 decimal place.) MANGO CORPORATION Income Statements (amounts in billions) For the Year Ended December 31 2018 2017 Revenues $ 274 % $ 232 % Costs of Purchased Crude Oil and Products 157 % 124 % 83 % 93 % 34 % 15 % Other Operating Costs Income before Income Tax Expense Income Tax Expense Net Income % 10 24 % % $ % $ 15