GIBSON COMPANY Income Statements Year 4 Year 3 Sales $201,900 $181,900 Cost of goods sold 142,300 120,300 Selling expenses 21,200 19,200 Administrative expenses 12,000 14,000 Interest expense 3,600 5,600 Total expenses $179,100 $159,100 Income before taxes Income taxes expense Net income 22,800 5,000 22,800 3,900 $ 17,800 $ 18,900 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., 0.234 should be entered as 23.4).) GIBSON COMPANY Horizontal Analysis of Income Statements Sales Cost of goods sold Selling expenses Administrative expenses Percentage Change over Year 3 % Screenshot