Income statements for Franklin Company for 2018 and 2019 follow: FRANKLIN COMPANY Income Statements 2019 Sales $200, 380 Cost of goods sold 142,600 Selling expenses 21, 3ee Administrative expenses 12,3ee Interest expense 3,40e Total expenses $179,600 Income before taxes 20,789 Income taxes expense 6,180 Net income $ 14,620 2018 $180, 3ee 120,6ee 19,300 14,380 5,480 $159,6ee 20,70 3,380 $ 17,480 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).) FRANKLIN COMPANY Horizontal Analysis of Income Statements Percentage Change over 2018 Sales 96 Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income (loss) 96 Required A Required B > Income statements for Franklin Company for 2018 and 2019 follow. FRANKLIN COMPANY Income Statements 2019 Sales $290, 3ee Cost of goods sold 142,6ee Selling expenses 21,300 Administrative expenses 12,300 Interest expense 3,400 Total expenses $179,600 Income before taxes 20,700 Income taxes expense 6,100 Net income $ 14,680 2018 $180, 300 120,600 19,308 14, 30e 5,400 $159,600 20,7ee 3,3ee $ 17,400 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 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. (i.e., .234 should be entered as 23.4).) FRANKLIN COMPANY Vertical Analysis of Income Statements Percentage of Percentage of Sales 2019 Sales 2018 Sales 96 % Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income 96