Income statements for Baird Company for 2018 and 2019 follow: BAIRD COMPANY Income Statements 2019 Sales $ 201, 700 Cost of goods sold 142, 400 Selling expenses 21,100 Administrative expenses 13,000 Interest expense 3,300 Total expenses $179,800 Income before taxes 21,900 Income taxes expense 6,600 Net income $ 15,300 2018 $181,700 120, 400 19,100 15,000 5, 300 $159,800 21,900 3, 100 $ 18,800 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. i.e., .234 should be entered as 23.4).) BAIRD COMPANY Horizontal Analysis of Income Statements Percentage Change over 2018 Sales 11.0 % Cost of goods sold 18.3 Selling expenses Administrative expenses Interest expense Total expenses Income before taxes 0.0 Income taxes expense Net income (loss) %