1 Income statements for Adams Company for Year 3 and Year 4 follow ADAMS COMPANY Income Statements Year 4 Sales $200,200 Cost of goods sold 142,600 Selling expenses 21,200 Administrative expenses 12,900 Interest expense 4,000 Total expenses $180,700 Income before taxes 20,000 Income taxes expense 5,900 Net Income $14.10 Book Year 3 $1,700 120,600 15,200 14.900 6,000 $160,700 20,000 3,700 $ 16,300 Required a. Perform a horizontal analysis showing the percentage change in each Income statement component between Year 3 and Year 4 b. Perform a vertical analysis, showing each Income statement component as a percentage of sales for each year. Complete this question by entering your answers in the tabs below. Required A quired Perform a horrontal analysis showing the percentage change in each income statement component between Year 3 and Year 4. (Negative answers should be indicated by a mine sign. Round your percentage answers to 1 decimal place it, 0.234 should be entered as 23,4)) ADAMS COMPANY Horizontal Analysis of income Statements Percentage Change Prey 1 of 6 !!! Next >