Income statements for Fanning Company for 2018 and 2019 follow Income Statements 2019 2018 201,600 0 181,600 120,200 18,600 14,100 Interest expense3,900900 Total expenses $178,800 $158,800 22,800 3,300 17,100 19,500 Sales of goods 142,200 Selling expenses 20,600 12,100 st old Adninistrative expenses Income before 22, 800 taxes ,700 expensc Net income 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 RequiredRequired 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).) show less Horizontal Analysis of Income Statements Percentage Change o Sales Cost of goods sold Selling expenses Administrative Interest expense otal e Income before taxes Income taxes expense