Income statements for Rundle Company for 2018 and 2019 follow: RUNDLE COMPANY Income Statements 2019 2018 Sales $ 200,700 $180,700 Cost of goods sold 143,200 121,200 Selling expenses 21,100 19,100 Administrative expenses 12,200 14,200 Interest expense 3,100 5,100 Total expenses $ 179,600 $159,600 Income before taxes 21,100 21,100 Income taxes expense 5, 2003 ,500 Net income $ 15,900 $ 17,600 $ 155,500 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. (i.e., .234 should be entered as 23.4).) RUNDLE 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) Required A Required B Perform a vertical analysis, showing each income statement component as a percentage of sales for each year. (Percentages may not add exactly due to rounding. Round your answers to 1 decimal place. (i.e., .234 should be entered as 23.4).) RUNDLE COMPANY Vertical Analysis of Income Statements Percentage of Percentage of Sales 2019 Sales 2018 Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income