Consider the following income statement (dollars in thousands): 2019 2018 Net Revenues Software sales 97,350 86,450 Customer support and service 68,500 59,040 Total net revenues 165,850 145,490 Operating expenses Cost of goods sold 5,875 Sales and marketing 72,650 5725 50298 Research, development, and support 37,990 31330 General and administrative 24,036 24278 Total operaring expenses 140,551 111,631 Income from operations 25,299 33,859 Required a. Conduct horizontal and vertical analyses of the firm's income statement. b. Describe several possible reasons for the firm's decline in income from operations? c. In what areas was the firm successful in 2019? d. Based on the approximate trends shown here, is it likely that the firm's income from operations will increase or decrease in 2020? Why