Income statements for Walton Company for Year 3 rum WALTON COMPANY Income Statements Year 4 Sales 5201,900 Cost of goods sold 143, See Selling expenses 21.00 Administrative expenses 12,200 Interest expense 3,480 Total expenses $132.100 Income before taxes 21,380 Income taxes expense 6,700 Net income $ 15,100 Year 3 $181,900 121,5 19.000 14,200 5,400 $160, 100 22,800 3,700 $ 18,100 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 a