Income statements for Gibson Company for Year 3 and Year 4 follow:

GIBSON COMPANY Income Statements
	Year 4				Year 3
Sales	$	200,600			$	180,600
Cost of goods sold		142,400				120,400
Selling expenses		21,000				19,000
Administrative expenses		12,900				14,900
Interest expense		3,600				5,600
Total expenses	$	179,900			$	159,900
Income before taxes		20,700				20,700
Income taxes expense		6,500				3,800
Net income	$	14,200			$	16,900

Required 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.

Complete this question by entering your an Perform a horizontal analysis, showing the percenta 4. (Negative answers should be indicated by a minu should be entered as 23.4 ).) iform a vertical analysis, showing each income stat omplete this question by entering your answers in Perform a vertical analysis, showing each income statement may not add exactly due to rounding. Round your percentag (23.4).)