Income statements for Benson Company for Year 3 and Year 4 follow. BENSON COMPANY Income Statements Year 4 Sales $201,200 Year 3 $181,200 Cost of goods sold 143,000 121,000 Selling expenses 20,700 18,700 Administrative expenses 12,300 14,300 Interest expense 3,800 5,800 Total expenses $179,800 $159,800 Income before taxes Income taxes expense Net income 21,400 6,600 $14,800 21,400 3,000 $ 18,400 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. (e. 234 should be entered as 23.4).) 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., .234 should be entered as 23.4).) BENSON 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 B > 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. (1.e., .234 should be entered as 23.4).) BENSON 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 Percentage of Sales Year 4 Sales Year 3 % %