Income statements for Finch Company for 2018 and 2019 follow:

FINCH COMPANY Income Statements
	2019				2018
Sales	$	202,000			$	182,000
Cost of goods sold		143,400				121,400
Selling expenses		20,200				18,200
Administrative expenses		12,200				14,200
Interest expense		3,100				5,100
Total expenses	$	178,900			$	158,900
Income before taxes		23,100				23,100
Income taxes expense		5,400				3,400
Net income	$	17,700			$	19,700

Required

1. Perform a horizontal analysis, showing the percentage change in each income statement component between 2018 and 2019.

2. Perform a vertical analysis, showing each income statement component as a percentage of sales for each year.

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).)

FINCH 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)		%

FINCH COMPANY
Vertical Analysis of Income Statements
	Percentage of Sales 2019		Percentage of Sales 2018
Sales		%		%
Cost of goods sold
Selling expenses
Administrative expenses
Interest expense
Total expenses
Income before taxes
Income taxes expense
Net income		%		%