Income statements for Gibson Company for 2018 and 2019 follow-

GIBSON COMPANY Income Statements
	2019				2018
Sales	$	200,300			$	180,300
Cost of goods sold		143,100				121,100
Selling expenses		21,700				19,700
Administrative expenses		12,800				14,800
Interest expense		3,800				5,800
Total expenses	$	181,400			$	161,400
Income before taxes		18,900				18,900
Income taxes expense		6,100				3,900
Net income	$	12,800			$	15,000

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.