Income statements for Vernon Company for Year 3 and Year 4 follow VON COMPANY Income Statements Year A Sales $200,200 Cost of goods sold 142, 100 Selling expenses 21,000 Administrative expenses 12.700 Interest expense 1,600 Total expenses $179,400 Income before taxes 20,500 Incone taxes expense 5.500 Net Income $14,300 Year 3 $180, 200 120, 100 19.000 14,700 5. GOD 5159 400 20,000 3,300 $ 17,000 Required 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 Perform a horizontal analysis, showing the percentage change in each income statement component between Year 1 and Year 4. (Negative answers should be indicated by a minus sign. Round your percentage answers to 1 decimal place (te, 0234 should be entered as 23.4).) VERNON COMPANY URULAR Y LUER HILLUR ME Complete this question by entering your answers in the tabs below. Required A Required 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 (1.0.234 should be entered as 23.4).) VERNON COMPANY Horizontal Analytis of income Statements Percentage Change over Year 3 Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income (loss) Required B ILULUI, My LLISUUUUUUU 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 percentage answers to 1 decimal place. (1.0.0.2.34 should be entered as 23.4).) VERNON COMPANY Vertical Analysis of Income Statements Percentage of Percentage of Sales Year 4 Sales Year 3 Sales % Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income