Based on the income statement information of five years, perform the horizontal, vertical and ratio analysis.

Income Statement For the Year Ended December 31 (Amount in millions) 2015 2016 2017 2018 2019 $1,50,000 $2,55,000 $3,00,000 $375,000 22,000 95,000 75,500 86,250 1,28,000 1,60,000 2,24,500 288,750 $4,75000 90000 $385,000 Revenue Cost of Goods Sold Gross Profit Other Expenses Advertising Office Expense Research Wages and Salaries Total Other Expenses Income Before Taxes Income Tax 39000 20,000 59,560 28,000 1,46,560 (18,560) 12% 5,200 17,400 85,000 50,000 157,600 3,000 13.4% 35.400 22,750 28,000 32,000 1,18,150 1,06,350 14.2% 35.400 22,750 50,000 40,000 293,150 (4.400) 15.5% 24,500 30,000 2,00,000 30,000 2,84,500 100,500 16.5% 2015 2016 2017 2018 2019 $3,00,000 $2,50,000 $375,000 96000 88,500 86,250 2,04,500 1,61,500 288,750 $375,000 163,125 211,875 $3,50,000 1,50,000 2,00,000 Revenue Cost of Goods Sold Gross Profit Other Expenses Advertising Office Expense Repairs and Maintenance Wages and Salaries Total Other Expenses Income Before Taxes Income Tax* Net Income 17000 15000 95,025 49525 1,76550 27,950 4052 $23,898 5,200 35,400 34500 22,750 85,000 50,000 50,000 40,000 1,74,700 293,150 (13,200) (4,400) 1,796 682 $11,404 $3718 5,200 17,400 85,000 50,000 157,600 54,275 8,413 $45,862 5,450 19,000 80,000 55,000 1,59,000 41,000 8500 $32500