Exercise 13-3A Horizontal and vertical analysis LO 13-1 Income statements for Rundle Company for Year 3 and Year 4 follow RUNDLE COMPANY Income Statements Year 4 Year 3 $200,800 $180,800 143,800 121,800 18,400 14,800 5,200 $180,200$160,200 20,600 3,300 Sales Cost of goods sold Selling expense:s 20,400 Administrative expenses 12,800 3,200 Interest expense Total expenses Income before taxes Income taxes expense Net income 20,600 5,1003388 $ 15,500 17,300 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 Required B Perform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year 4" (Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (i.e., .234 should be entered as 23.4).) RUNDLE COMPANY Horizontal Analysis of Income Statements Percentage Change over Year 3 Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income (loss) Required A RequiredB Exercise 13-3A Horizontal and vertical analysis LO 13-1 Income statements for Rundle Company for Year 3 and Year 4 follow RUNDLE COMPANY Income Statements Year 3 $200,800 $180,80e 143,800 121,800 18,400 14,800 5,200 $180,200 $160,20 20,600 3,300 $ 15,500 17, 300 Year 4 Sales Cost of goods sold Selling expenses 20,400 Administrative expenses 12,800 3,200 Interest expense Total expenses Income before taxes 20,600 Income taxes expense5,100 Net income Required a. Perform a horizontal analysis, showing the percentage change in each Income statement component between Year 3 and Year4 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 RequiredA Required B Perform a vertical analysis, showing each income statement component as a percentage of sales for each year. (Percentages may not add exactly due to rounding. Round your answers to 1 decimal place. (i.e., .234 should be entered as 23.4).) RUNDLE COMPANY Vertical Analysis of Income Statements of Sales Year 4 Sales Year 3 Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income Required A red