Income statements for Rundle Company for 2018 and 2019 follow: RUNDLE COMPANY Income Statements 2019 Sales $ 201,400 Cost of goods sold 142,300 Selling expenses 21,300 Administrative expenses 12,900 Interest expense 3,400 Total expenses $179,900 Income before taxes 21,500 Income taxes expense 6,400 Net income $ 15,100 2018 $181,400 120,300 19,300 14,900 5,400 $159,900 21,500 3,800 $ 17,700 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. (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) % Complete this question by entering your answers in the tabs below. 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 %