Income statements for Rooney Company for Year 3 and Year 4 follow ROONEY COMPANY Income Statements Sales Year 4 $200,800 Year 3 $180,800 Cost of goods sold 143,200 121,200 Selling expenses 20,800 18,800 Administrative expenses 12,100 14,100 Interest expense 3,600 5,600 Total expenses $179,700 Income before taxes Income taxes expense Net income 21,100 5,500 $159,700 21,100 3,100 $ 15,600 $ 18,000 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 answers in the tabs below. Required A Required B Perform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year 4. (Negative answers should be indicated by a minus sign. Round your percentage answers to 1 decimal place. (i.e., 0.234 should be entered as 23.4).) ROONEY COMPANY Horizontal Analysis of Income Statements Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Percentage Change over Year 3 % Next