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help please! Income statements for Walton Company for Year 3 and Year 4 follow: Required a. Perform a horizontal analysis, showing the percentage change in
help please!
Income statements for Walton Company for Year 3 and Year 4 follow: 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: \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ WALTON COMPANY } \\ \hline \multicolumn{3}{|c|}{ Horizontal Analysis of Income Statements } \\ \hline & PercentageChangeoverYear3 & \\ \hline Sales & & % \\ \hline Cost of goods sold & & \\ \hline Selling expenses & & \\ \hline Administrative expense & & \\ \hline Interest expense & & \\ \hline Total expenses & & \\ \hline Income before taxes & & \\ \hline Income taxes expense & & \\ \hline Net income (loss) & & % \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ WALTON COMPANY } \\ \hline \multicolumn{3}{|c|}{ Horizontal Analysis of Income Statements } \\ \hline & \multicolumn{2}{|l|}{PercentageChangeoverYear3} \\ \hline Sales & & % \\ \hline Cost of goods sold & 7 & \\ \hline Selling expenses & & \\ \hline Administrative expenses & & \\ \hline Interest expense & & \\ \hline Total expenses & 7 & \\ \hline Income before taxes & & \\ \hline Income taxes expense & & \\ \hline Net income (loss) & \% & % \\ \hline \end{tabular} Step by Step Solution
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