Vertical Margins and Paddings

This is the first paragraph with no padding or margins. This should be flush next to the following paragraph.

Here is the second paragraph with no padding or margins. This should be flush with the preceding paragraph.

This is the first paragraph with top and bottom margins of 1em. This margin should be combined with the 1em margin of the next paragraph.

This is the second paragraph with top and bottom margins of 1em. This margin should be combined with the 1em margin of the previous paragraph.

This is the first paragraph with top and bottom paddings of 1em. This padding should be combined with the 1em padding of the next paragraph.

This is the second paragraph with top and bottom paddings of 1em. This padding should be combined with the 1em padding of the previous paragraph.