Income statements for Baird Company for 2018 and 2019 follow: BAIRD COMPANY Income Statements 2019 Sales $200,100 Cost of goods sold 142,200 Selling expenses 21,700 Administrative expenses 12.200 Interest expense 3,400 Total expenses $179.500 Income before taxes 20.600 Income taxes expense 5.900 Net income $ 14,700 2018 $180, 100 120,200 19,700 14.200 5.400 $159,500 20,600 3,300 $ 17,300 Required a. Perform a horizontal analysis, showing the percentage change in each income statement component between 2018 and 2019. 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 2018 and 2019, (Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (l.e., .234 should be entered as 23.4).) BAIRD COMPANY Horizontal Analysis of Income Statements Percentage Change over 2018 Sales Required a. Perform a horizontal analysis, showing the percentage change in each Income statement component between 2018 and 2019 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 2018 and 2019. (Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (.e.,.234 should be entered as 23.4).) BAIRD COMPANY Horizontal Analysis of Income Statements Percentage Change over 2018 Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income (loss) Required > Required a. Perform a horizontal analysis, showing the percentage change in each income statement component between 2018 and 2019. 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 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. (.e., .234 should be entered as 23.4).) BAIRD COMPANY Vertical Analysis of Income Statements Percentage of Percentage of Sales 2019 Sales 2018 Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income ( Required A Selected financial information for Adams Company for 2019 follows: $1,900,000 1,330,000 Sales Cost of goods sold Merchandise inventory Beginning of year End of year 155,000 197,000 Required Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn over during 2019? (Round your answer to 2 decimal places.) Merchandise inventory turnover