Income statements for Walton Company for Year 3 and Year 4 follow: WALTON COMPANY Income Statements Year 4 Year 3 Sales $200,100 $180,100 Cost of goods sold 142,100 120,100 Selling expenses 21,900 19,900 Administrative expenses 12,100 14,100 Total expenses Interest expense Income before taxes Income taxes expense Net income 20,800 6,100 $ 14,700 3,200 5,200 $179,300 $159,300 20,800 3,700 17,100 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 A (Negative sociore should be indicated by a minus sign Round your answere to 1 decimal place 4 0.234 should be