Income statements for Solomon Company for 2018 and 2019 follow: SOLOMON COMPANY Income Statements 2019 Sales $200, 700 Cost of goods sold 142, 600 Selling expenses 20, 200 Administrative 12,600 expenses Interest expense 3,900 Total expenses $179, 300 Income before taxes 21,400 Income taxes expense 5,900 Net income $ 15,500 2018 $180, 700 120, 600 18, 200 14, 600 5, 900 $159, 300 21, 400 3, 900 $ 17,500 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).) SOLOMON 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).) SOLOMON 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 % %