Exercise 13-3A (Algo) Horizontal and vertical analysis LO 13-1 Income statements for Jordan Company for Year 3 and Year 4 follow: JORDAN COMPANY Income Statements Year 4 Year 3 Sales $ 201,200 $ 181,200 Cost of goods sold 143,100 121,100 Selling expenses 20,200 18,200 Administrative expenses 12,600 14,600 Interest expense 3,500 5,500 Total expenses 179,400 159,400 Income before taxes 21,800 21,800 Income taxes expense 6,000 3,100 Net income $ 15,800 $ 18,700 Required Perform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year 4. Perform a vertical analysis, showing each income statement component as a percentage of sales for each year