Income statements for Burch Company for Year 3 and Year 4 follow es DURCH COMPANY Income Statements Year Bales $240.000 Coat of goods sold 180,000 Selling expenses 26.000 Administrative expenses 12,000 Interest expense 7.500 Total expenses $225,500 Income before taxes 14,500 Income taxes expense 1.200 Net Income $ 13,300 Year 3 $200,000 124,000 20,000 18,000 0,000 $170,000 30,000 3.000 $ 27,000 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 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 decimal place. (...0.234 should be entered as 23.4). BURCH COMPANY Vertical Analysis of Income Statements Percentage of Percentage of Sales Year 4 Salee Year 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 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 le. 0.234 should be entered as 23.6.) BURCH COMPANY Vertical Analysis of Income Statements Percentage of Percentage of Sales Year 4 Sales Year Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxe Income taxes expense Net Income