Income statements for Franklin Company for 2018 and 2019 follow Income Statenents 2019 2018 Sales Cost of goods sold Selling expenses $201,600 $181,600 142,200 120,200 19,100 14.100 5.500 $178,900 $158.900 22,700 21,100 12,100 ve expense 3,500 total expenses Income before taxes Income taxes expense 5,600 3,300 17,100 19,400 Required 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 n 2018 and 2019. in each (Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (h.e., 234 should be entered as 23.4).) I Analysis of Income Statements Next> Prev 1 of 4 Complete this question by entering your answers in the tabs below. Required A Required B Perform a vertical analysis, showing each may not add exactly due to rounding. Round your answers to 1 decimal place. (i.e., .234 should be entered as income statement component as a percentage of sales for each year Vertical Analysis of Income Statements Percentage of Sales 2019 ge of Sales 2018 Sales Cost of goods sold Selling expenses Interest expense Total expenses Income before taces Income taxes expense Net income FI 0 F F3 F7 3