Income statements for Adams Company for Year 3 and Year 4 follow: ADAMS COMPANY Income Statements Year 4 Year 3 Sales $200,400 $180,400 Cost of goods sold 142,200 120,200 Selling expenses 21,200 19,200 Administrative expenses 12,100 14,100 Interest expense 3,400 5,400 Total expenses $178,900 $158,900 Income before taxes 21,500 21,500 Income taxes expense 6,400 3,500 Net income $ 15,100 $ 18,000 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 percentage answers to 1 decimal place. (i.e., 0.234 should be entered as 23.4).) ADAMS COMPANY Horizontal Analysis of Income Statements Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income (loss) Percentage Change over Year 3 Required A 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 percentage answers to 1 decimal place. (i.e., 0.234 should be entered as 23.4).) ADAMS COMPANY Vertical Analysis of Income Statements Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income Percentage of Sales Year 4 Percentage of Sales Year 3 % Required