Income statements for Solomon Company for Year 3 and Year 4 follow: SOLOMON COMPANY Income Statements Year 4 Year 3 Sales $200,600 $180,600 Cost of goods sold 142,500 120,500 Selling expenses 20,600 18,600 Administrative expenses 12,100 14,100 Interest expense 3,400 5,400 Total expenses $178,600 $158,600. Income before taxes Income taxes expense Net income $ 16,800 $ 18,100. 22,000 5,200 22,000 3,900 s 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).) SOLOMON COMPANY Horizontal Analysis of Income Statements Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Percentage Change over Year 3 %