Income statements for Stuart Company for 2018 and 2019 follow: STUART COMPANY Income Statements 2019 Sales $200,300 Cost of goods sold 143,300 Selling expenses 21,000 Administrative expenses 12,500 Interest expense 3,600 Total expenses $180,400 Income before taxes 19,900 Income taxes expense 5,200 Net income $ 14,700 2018 $180,300 121,300 19,000 14,500 5,600 $160,400 19,900 4,000 $ 15,900 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).) STUART 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).) STUART 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 % %