Income statements for Munoz Company for 2018 and 2019 follow: MUNOZ COMPANY Income Statements 2019 Sales $ 201,500 Cost of goods sold 143,700 Selling expenses 21,700 Administrative expenses 12,400 Interest expense 3,800 Total expenses $181,600 Income before taxes 19,900 Income taxes expense 6,200 Net income $ 13,700 2018 $181,500 121,700 19,700 14,400 5,800 $ 161,600 19,900 3,200 $ 16,700 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. (1.e., .234 should be entered 22411 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. (1., 234 should be entered as 23.4).) MUNOZ COMPANY Horizontal Analysis of Income Statements Percentage Change over 2018 Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income (loss)