Income statements for Franklin Company for Year $3$ and Year $4$ follow:

Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net- income Required Income statements for Franklin Company for Year 3 and Year 4 follow: FRANKLIN COMPANY Income Statements 121,500 143,500 20,000 22, ooo 14,500 162, 182, 20, Year 4 $ 202,o 12 , 5 4, 20, o $ 13,900 Year 3 $ 182,o 6,000 $ 16,600 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.