Income statements for Adams Company for Year 3 and Year 4 follow ADAMS COMPANY Income Statements Year 4 Year 3 Sales $200,900 $180,900 Cost of goods sold 143,500 121,500 Selling expenses 21,400 19,400 Administrative expenses 12,900 14,900 Interest expense 3,900 5,900 Total expenses $181,700 $161,700 Income before taxes Income taxes expense Net income 19,200 6,800 19,200 3,300 $ 12,400 $ 15,900 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).) 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 %